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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, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
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- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
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