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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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Thursday, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
Wednesday, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
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- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- PowerSource Philippines DevCo
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