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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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Monday, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
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- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
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- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
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- Medco Energi Mining Internasional
- Australian Coal Association
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
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- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
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- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
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