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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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- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
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