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