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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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- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Planning Commission, India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- PTC India Limited - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
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