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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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Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
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Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
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Monday, 30 August 10
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Monday, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
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- Salva Resources Pvt Ltd - India
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- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
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- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
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- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
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- Economic Council, Georgia
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- The Treasury - Australian Government
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- Posco Energy - South Korea
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- Coal and Oil Company - UAE
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- TeaM Sual Corporation - Philippines
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- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
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- New Zealand Coal & Carbon
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- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
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- Trasteel International SA, Italy
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- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
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- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
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- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
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- Bhatia International Limited - India
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- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
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