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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
Saturday, 14 November 09
ASIA'S POWER SECTOR IS INVESTING IN COALMINES TO SECURE SUPPLIES
COALspot.com (Press Release): Asia Coal Power conference in Jakarta pinpoints growing power demand in Asia & Power sector investments in Indones ...
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- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
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- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
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- Sojitz Corporation - Japan
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- VISA Power Limited - India
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- Australian Coal Association
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
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- Global Coal Blending Company Limited - Australia
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- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
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- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
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