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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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Wednesday, 05 August 09
PEOPLE'S MINING SHOULD BE REGULATED UNDER RPP MINERBA
The Indonesian Institute of Science (LIPI) has called on the government to include a specific provision for people’s mining in the draft govern ...
Tuesday, 04 August 09
SRI LANKA IS LOOKING FOR 650,000 TON OF COAL NEXT YEAR FOR ITS FIRST 900 MW POWER PLANT.
COALspot.com ( Sri Lanka) : Lanka Coal Company Limited was issued a tender on 23 July 2009 to purchase 650,000 +/- 20% MT Bituminous Coal per a ...
Monday, 03 August 09
ONE YEAR CHARTER RATES FOR SUPRAMAX WAS AT AROUND USD 18,500 - VISTAAR SINGAPORE
COALspot.com (Singapore) : The freight market was flat this week with hardly any change in the BDI.The cape was up by about 4 pct and closed at 5,38 ...
Saturday, 01 August 09
APGENCO SAYS BOUGHT 500,000T MALAYSIAN COAL
The Malaysian Insider reported that, Indian state utility Andhra Pradesh Power Generation Corporation Ltd (Apgenco) has bought 500,000 tonnes of Mal ...
Thursday, 30 July 09
KOMIPO OFFERED 3 MILLION MT IN TENDER, TEN TIMES OVERSUBSCRIBED
Korea Midland has received offers for 3 million mt of bituminous steam coal in its latest tender despite the power utility seeking only 300,000 mt, ...
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- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
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- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
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- Cement Manufacturers Association - India
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- The University of Queensland
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- PTC India Limited - India
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- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
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- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
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- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
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