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