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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, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
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