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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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Thursday, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
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