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