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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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- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Australian Coal Association
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
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