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