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