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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, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
Saturday, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
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- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- White Energy Company Limited
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
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