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