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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
Thursday, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
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- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- The University of Queensland
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
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