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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, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bha ...
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- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Global Green Power PLC Corporation, Philippines
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- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Planning Commission, India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Trasteel International SA, Italy
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