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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, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
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- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Bhushan Steel Limited - India
- PTC India Limited - India
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