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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, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
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