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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of la ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
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- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
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- Australian Coal Association
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- Holcim Trading Pte Ltd - Singapore
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- Coal and Oil Company - UAE
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- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
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- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
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- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
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- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
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