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