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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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- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- White Energy Company Limited
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
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