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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, 01 June 09
LAHAT RELIES ON COAL FOR GROWTH
Lahat regency in South Sumatra spans 6,618.27 square kilometers, encompasses 19 districts and covers 528 subdistricts and villages. It is inhabited ...
Monday, 01 June 09
LANDED COST OF IMPORTED COAL HAS INCREASED BY 10 - 15% COMPARE TO EARLY THIS YEAR - PAKISTAN TRADERS
COALspot.com (Pakistan): Due to visiting non commercial vessels occupied commercial berths in Karachi port, coal carrying vessels were sufferi ...
Monday, 01 June 09
LAHAT RELIES ON COAL FOR GROWTH - THE JAKARTA POST
Lahat regency in South Sumatra spans 6,618.27 square kilometers, encompasses 19 districts and covers 528 subdistricts and villages. It is inhabited ...
Saturday, 30 May 09
THE CHINESE IMPORTS OF IRON ORE,COAL AND NICKEL ORE SEEMED TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore,said, the Baltic index rally continued this week ...
Saturday, 30 May 09
COAL INDIA SIGNS FUEL SUPPLY AGREEMENT WITH NTPC - SINDHTODAY
India’s largest coal miner Coal India Friday inked a much-awaited fuel supply agreement (FSA) with power generation major NTPC Ltd.
In the ...
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- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
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