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