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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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Tuesday, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
Tuesday, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
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- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
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