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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, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
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Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
Thursday, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
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- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
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