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