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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 25 April 14
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Friday, 25 April 14
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Friday, 25 April 14
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Thursday, 24 April 14
HANDY : A FLOW OF FRESH REQUIREMENTS LIFTING THE PACIFIC SLOWLY TO US$ 10-11 K BSS SINGAPORE FOR COAL ROUNDS
Handy
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Wednesday, 23 April 14
EUROPE WOULD BE HARD PRESSED TO REPLACE RUSSIAN GAS, FITCH RATINGS SAYS
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- Mercator Lines Limited - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Australian Coal Association
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
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