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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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Sunday, 28 April 13
PANAMAX FREIGHT COULD BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - This BDI closed slightly lower at 871 points (down by 1.91 pct) mainly due to drop in the Panamax index by almost 10 pct.
Th ...
Saturday, 27 April 13
HANDY : SLIDING ; PANAMAX : POSITIVE ; CAPESIZE : STILL ON ITS KNEES - FEARNRESEARCH
Handy
The Atlantic markets started sliding with no fresh cargoes seen in the market. The USG-Feast was at USD 18k and Black sea-Feast was at USD 11 ...
Saturday, 27 April 13
2ND CHINA INTERNATIONAL SHALE GAS SUMMIT
Press Release - 2nd China International Shale Gas Summit, 10-13 September 2013 | Chengdu, China
*The largest annual event for the shale gas indus ...
Friday, 26 April 13
LIMA SUMMIT IN JULY TO HIGHLIGHT LATIN AMERICAN MINING POTENTIAL
COALspot.com - Latin American mining industry officials and their private sector counterparts will be gathering in Lima, Peru on July 1-2 for the La ...
Wednesday, 24 April 13
FUTURE US POWER MARKET SHARES OF COAL, NATURAL GAS GENERATORS DEPEND ON RELATIVE FUEL PRICES - EIA
COALspot.com - In recent years, in US, natural gas competed more effectively with coal as a fuel for electricity generation as the cost of operating ...
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- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- PTC India Limited - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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