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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 20 July 09
INDONESIA PRODUCES 72 MILLION MT IN FIRST HALF OF YEAR: OFFICIAL
Indonesia produced 72 million mt of coal in the first half of 2009, or 31.3% of the government’s target this year, a senior government officia ...
Sunday, 19 July 09
JINDAL S&P IN TALKS TO BUY SA COAL MINE FOR RS 350-400 CR (US$ 80 - 90 MILLION)
Economic Times reported that, Naveen Jindal-led Jindal Steel & Power (JSPL) is acquiring a thermal coal mine in South Africa, a top company exec ...
Saturday, 18 July 09
REN POWER CZ COMMISSIONS ANOTHER PHOTOVOLTAIC POWER STATION
COALspot.com (Press Release): REN Power CZ, a company in the Czech Coal Group, has put into operation another photovoltaic power station. The plant ...
Saturday, 18 July 09
THE FUTURE FOR SUPRAMAX FOR NEXT 3 YEARS TILL 2012 WOULD BE AROUND US$ 13,500 PER DAY - CAPT. REDDY
COALspot.com ( Singapore): The market moved up sharply this week , which was quite unexpected.
The BDI was up by 557 which is an increase of 18 ...
Friday, 17 July 09
CHINA COAL-SPOT PRICES EDGE LOWER, SUPPLY APLENTY
China Mining reported that, spot prices in China's top coal shipping port Qinhuangdao edged lower from a week earlier, as supply grew, offsetting t ...
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- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
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