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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
South African coal prices are set for another price surge to over $100 a ton FOB as Indian and Chinese buyers compete for limited prompt supply, pro ...
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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- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Planning Commission, India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Economic Council, Georgia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
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