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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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Thursday, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
Wednesday, 20 October 10
CANADIAN CHALLENGER ACQUIRES INDONESIAN COAL PROJECT
COALspot.com (Press Release): According to Challenger Deep Resources Corp's website and press release posted on the site, Challenger Deep Res ...
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- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
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