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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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Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
Thursday, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
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- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Planning Commission, India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
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