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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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Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
Tuesday, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
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- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- MS Steel International - UAE
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- The University of Queensland
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
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