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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, 07 September 09
VALE SPENT $300 MILLION AT MOZAMBIQUE COAL MINE
Bloomberg rported that, Vale SA, the world’s biggest iron- ore producer, has so far spent about $300 million of the $1.3 billion investment in ...
Monday, 07 September 09
INDIA MAY BOOST COAL IMPORTS FROM INDONESIA - PLAN JVS
WSJ reported taht, India agreed to study setting up joint ventures with Indonesian companies to acquire coal assets, and look at other means of impo ...
Monday, 07 September 09
INDIAN COAL MAY NOT POWER NEW UMPPS
The Economic Times reported that, bidders for new ultra mega power projects (UMPP) may not get assured coal supplies from domestic mines. As per the ...
Saturday, 05 September 09
THE ECI / CHINA (S7) ROUTE SOFTENED BY ALMOST 12% AND THE CHARTER HIRE WAS AT US$ 16,346 PER DAY - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI almost same as last week at 2,415 points.The Panamax index went up b ...
Saturday, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
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- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- The University of Queensland
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
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