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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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Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
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- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
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