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