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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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- Kepco SPC Power Corporation, Philippines
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- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
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- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
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- Eastern Energy - Thailand
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- Baramulti Group, Indonesia
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- IEA Clean Coal Centre - UK
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- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
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- Toyota Tsusho Corporation, Japan
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- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
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- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
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- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
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- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
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- Karbindo Abesyapradhi - Indoneisa
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- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
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- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
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- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
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