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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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Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
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- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- White Energy Company Limited
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Planning Commission, India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
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