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