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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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Saturday, 09 January 10
IMPORTED, LOCAL COAL TO BE MIXED IN POWER DRIVE
The government is likely to create a pool price of coal, wherein imported coal and Indian coal could be mixed, making the imported coal becomes more ...
Friday, 08 January 10
SA COAL PRICES TO SPIKE ON RESUMED INDIA BUYING
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Friday, 08 January 10
COLOMBIAN COAL STARTS TO MOVE TO CHINA - TRADERS
* Producer sells cape cargo Colombian coal to China
* Firm bids in freight market
* More shipments expected
Colombian coal is starting to move ...
Thursday, 07 January 10
PT. BUKIT ASAM TO BUILD NEW COAL LOADING TERMINAL AND COAL LOADER
COALspot.com (Indonesia): PT Bukit Asam (Persero) Tbk, Indonesia’s state owned coal mining company, is planning to build an additi ...
Thursday, 07 January 10
RAMKY PLANS COAL MINING IN INDONESIA
Ramky Infrastructure Limited, a Hyderabad-based integrated infrastructure construction and development management company with strategic emphasis on ...
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- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
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