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