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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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Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
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- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
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- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
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- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
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- Indonesian Coal Mining Association
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- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Aditya Birla Group - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
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