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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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Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
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- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- The Treasury - Australian Government
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