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