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