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