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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of la ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
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- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- The University of Queensland
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
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