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