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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, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- Medco Energi Mining Internasional
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
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