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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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Thursday, 01 August 13
CAPESIZE: THE FLOW OF CARGOES REMAINS RELATIVELY STABLE, AND THE PACIFIC IS LOOKING PROMISING - FEARNLEYS AS
Handy
The Pacific market is still facing low activity, so no wonder that the tonnage list is getting longer. It´s still Ramadan and only a fe ...
Wednesday, 31 July 13
COAL GASIFICATION
IBC’s Coal Gasification conference explores the opportunities for coal gasification investment and development in Asia.
With depleting dome ...
Wednesday, 31 July 13
SUPRAMAX : THE PACIFIC BASIN WAS MOVING ON A POSITIVE PATH - EVA TZIMA
COALspot.com: Cape - Despite holding their ground fairly well early on in the week, Capes in the Atlantic basin gave in to the mounting pressure fro ...
Tuesday, 30 July 13
HARD COAL ON THE WAY TO BECOMING THE WORLD'S MOST IMPORTANT ENERGY SOURCE - VDKI
Press Release : Hard coal continued to be the world’s fastest-growing fossil primary energy source in 2012. It covered about 28% of the world ...
Tuesday, 30 July 13
WIJAYA TRI UTAMA PURCHASES MICROCOAL TECHNOLOGIES' CLEAN COAL UPGRADING FACILITY
- First MCI commercial scale application of proprietary microwave technology to upgrade coal thermal output and reduce pollutants
- MicroCoal to re ...
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- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- PTC India Limited - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
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