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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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Friday, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- MS Steel International - UAE
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
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