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