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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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Saturday, 13 June 09
CLEARLY THE DRIVER FOR DRY BULK MARKET SEEMS TO BE IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com (Singapore): The market saw mixed results last week. The beginning of the week saw the indices dropping including the futures , however t ...
Friday, 12 June 09
SOUTH SUMATERA SPEEDS UP INTERNATIONAL HARBOR CONSTRUCTION - TEMPO INTERACTIVE
The South Sumatera Government will speed up construction of the international harbor Tanjung Api-Api. The harbor is a strategic entry point for comm ...
Friday, 12 June 09
CHINA SHENHUA NOT EYEING NEW FOREIGN COAL MINES - MEDIA
China Shenhua Energy Co Ltd , the top Chinese coal miner, will not consider buying any major overseas mines before it starts operating the Watermark ...
Friday, 12 June 09
CHINA TOP POWER COS SIGN REGIONAL COAL DEALS - REUTERS
China's top five power generating groups have signed 2009 coal supply contracts with miners in Guizhou and Xinjiang, with prices up 4 percent on th ...
Friday, 12 June 09
MERCATOR LINES TARGETS 30 MILLION TONNE FROM MOZAMBIQUE COAL MINE - STEEL GURU
India’s second largest private shipping company Mercator Lines has targeted production of 30 million tonnes of coal from its Mozambique mine o ...
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- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Central Electricity Authority - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
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