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