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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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Monday, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
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- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- The University of Queensland
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
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