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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
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- Port Waratah Coal Services - Australia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- PTC India Limited - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
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