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