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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 17 August 09
CHINESE COAL PURCHASE COULD START A TREND
ABC Rural reported that, The takeover of a major Australian coal mining company by Chinese-owned Yanzhou has raised fears coal markets could be domi ...
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TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The dry bulk market continued to be soft in the beginning of the week, however towards to end of the week the BDI recovere ...
Friday, 14 August 09
ASIA GREEN TO SELL MORE COAL
I Stock Analyst reported that, Asia Green Energy Plc (AGE) aims to increase its coal sales by 20 percent to 1 million tonnes this year, given the gl ...
Friday, 14 August 09
INDONESIA COAL-PRICES FALL TO $74, INDIA EYES SEPT CARGOES
Reuters reported that, Prices of power-station coal from Australia fell to around $74 a tonne as demand eased, while Indian buyers started to look f ...
Friday, 14 August 09
GUACOLDA STARTS THIRD COAL-FIRED UNIT
Macorship reported that, Chile’s Empresa Electrica Guacolda said that the third unit at its Guacolda coal-fired power plant began supplying po ...
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- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
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- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
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