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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, 23 May 09
THE SPOT SUPRAMAX CONTINUED TO BE FIRM - VISTAAR SINGAPORE
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore, said, the beginning of the week continued ...
Saturday, 23 May 09
INDONESIA'S COAL OUTPUT SLUMPS IN Q1 ON LOWER PRICES, FALLING DEMAND - THE JAKARTA GLOBE
Falling international coal prices, bad weather and other problems cut first-quarter coal output by 50 percent to 30 million tons against an initial ...
Saturday, 23 May 09
INDIAN GOVT PLANS TO BUILD FIVE COAL-BASED POWER PLANTS AT $3.5B TO END CRISIS - THE FINANCIAL EXPRESS
The government has started working on a plan to set up five coal-based power plants with combined capacity of 2,500 mega watt to solve the country' ...
Saturday, 23 May 09
INTERNATIONAL COAL VENTURES PVT LTD FORMED - INDIA SERVER
National Thermal Power Corporation Limited (NTPC Ltd), the largest thermal power generating company of India, has entered into a joint venture with ...
Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
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- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
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- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
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- The University of Queensland
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- The State Trading Corporation of India Ltd
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- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
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- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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- Ministry of Transport, Egypt
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- Indian Oil Corporation Limited
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- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
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- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
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- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
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- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Australian Coal Association
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
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