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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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Wednesday, 04 March 20
UKRAINE PRODUCED OVER 2.55 MLN TONNES OF COAL IN FEBRUARY - UKRINFORM
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The Coal Miners Union of Ukrai ...
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- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
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- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
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- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
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- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
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- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
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