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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
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- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
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