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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
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- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- The University of Queensland
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
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