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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, 04 October 10
2 BLN TONS OF COAL RESERVES DISCOVERED IN SOUTHERN PAKISTAN - XINHUA / HELLENIC SHIPPING
Xinhua and Hellenic Shipping reporte dhtat, the discovery of at least two billion tons of usable coal reserves has been confirmed in one of the ...
Sunday, 03 October 10
THE BDI WAS JUST INCREASED BY 8 POINTS AND CLOSED AT 2452 POINTS LAST FRIDAY - VISTAAR
COALspot.com: The BDI was almost at same levels and just increased by 8 points and closed at 2452 points , however the cape index was up by al ...
Sunday, 03 October 10
NALCO TO FINALIZE INDONESIA COAL DEAL BY JANUARY - HINDUSTAN TIMES
HindustanTimes reported that, state-owned National Aluminium Company (NALCO) will finalise a deal with a coal source in Indonesia for its $4 billion ...
Sunday, 03 October 10
INDONESIA WILL BECOME A NET IMPORTER OF ENERGY IN 2030 - BPPT
Jakarta Updates reported that,Indonesian Agency for the Assessment and Application of Technology (BPPT) predicted that the energy situation in Indon ...
Saturday, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
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- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- The University of Queensland
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
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