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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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Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
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- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
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- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Australian Coal Association
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
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