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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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Thursday, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
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- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- London Commodity Brokers - England
- VISA Power Limited - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
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