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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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Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
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- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Australian Coal Association
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
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