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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, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
Wednesday, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
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- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
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