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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, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said ...
Thursday, 18 March 10
COAL IMPORTS SOAR IN NANTONG PORT OF JIANGSU PROVINCE CHINA
BloombergUTV reported that, Coal imports at Nantong Port, located in coastal China's Jiangsu Province, soared 13 times to 581,000 tonnes in the fir ...
Thursday, 18 March 10
INNER MONGOLIA TO CAP COAL OUTPUT AT 700 MLN TONS IN 2010
Alibaba / China Knowledge reported that, Inner Mongolia, China's northern border autonomous region, plans to control coal output at 700 million ton ...
Thursday, 18 March 10
THE INDIAN MARKET WAS QUIET, BUT BECAUSE OF THE TIGHT TONNAGE SITUATION STILL FIRM - FEARNLEYS AS
Handy
Activity continues to be solid in the Atlantic.
Supramax physical market is strong which pushed the BSI to a 17 month high at ...
Thursday, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
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- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- The University of Queensland
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
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