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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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Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
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- Medco Energi Mining Internasional
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- The University of Queensland
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
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