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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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Tuesday, 12 May 09
BANPU'S PROFIT DOUBLES TO RECORD AFTER SALES JUMP - BLOOMBERG
BANPU Pcl, Thailand’s biggest coal producer, reported first-quarter profit more than doubled to a record after higher prices for the fuel boos ...
Tuesday, 12 May 09
COAL IN PLACE, GMR PLANS 2,000-MW THERMAL PLANT - BUSINESS-STANDARD
GMR ENERGY, a subsidiary of Bangalore-based infrastructure company GMR Infrastructure Ltd, is planning to set up a 2,000-Mw thermal power plant near ...
Monday, 11 May 09
SOUTH AFRICA PROBLEMS SLOW INDIA COAL BUYING - MINE WEB
Indian imports of South African coal are likely to be close to 12 million tonnes in 2009, up from 10 million last year.
Indian coal buyers were a ...
Saturday, 09 May 09
THE WEEK SAW BIT OF HECTIC ACTIVITY IN THE FREIGHT MARKET - VISTAAR SHIPPING
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, one of the experienced ship operator in Singapore, said, the week saw bit of hectic ac ...
Saturday, 09 May 09
CHINA PLANS TO BUILD COAL STOCKPILE BASES IN SHANDONG - BLOOMBERG
China, the world’s largest coal producer and consumer, plans to build stockpiles of the fuel in the eastern province of Shandong to ensure sup ...
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- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
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