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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, 24 August 09
10 LAKH (1 MILLION) TONNE COAL BURNT IN KPT
Times of India reported that, In an unusual phenomenon, 10 lakh tonne coal cache stored at a plot in Kandla Port Trust was reduced to ashes after it ...
Monday, 24 August 09
LANCO IN TALKS FOR INDONESIAN COAL MINE
Economic Times of India reported that, Infrastructure company Lanco Infratech is in advanced talks with Indonesian engineering, procurement and cons ...
Saturday, 22 August 09
'THE BDI IS LIKELY TO BE HOLDING AROUND 2,500 POINTS' - SHIPPING UPDATE
COALspot.com (Singapore): The dry bulk market continued to be soft and the BDI dropped by 10 percent this week and closed at 24,68 points this week. ...
Saturday, 22 August 09
INDIAN COAL BUYERS RE-EMERGE WITH FRESH TENDERS
Reuters world's largest international multimedia news agency reported that,Indian coal end-users have re-emerged after a few weeks with several fre ...
Friday, 21 August 09
HUANENG YIMIN TO HIKE COAL OUTPUT
China Daily, the largest English portal in China reported that, China's first large coal-electricity joint project, Huaneng Yimin Coal Electricity ...
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- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
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- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
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- Siam City Cement - Thailand
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- Minerals Council of Australia
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- Standard Chartered Bank - UAE
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- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
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- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
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- Goldman Sachs - Singapore
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- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- VISA Power Limited - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- The University of Queensland
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Planning Commission, India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
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- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
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