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