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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, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- White Energy Company Limited
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Mercator Lines Limited - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
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