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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
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- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
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