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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, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
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- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- The University of Queensland
- The Treasury - Australian Government
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
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