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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, 04 October 10
2 BLN TONS OF COAL RESERVES DISCOVERED IN SOUTHERN PAKISTAN - XINHUA / HELLENIC SHIPPING
Xinhua and Hellenic Shipping reporte dhtat, the discovery of at least two billion tons of usable coal reserves has been confirmed in one of the ...
Sunday, 03 October 10
THE BDI WAS JUST INCREASED BY 8 POINTS AND CLOSED AT 2452 POINTS LAST FRIDAY - VISTAAR
COALspot.com: The BDI was almost at same levels and just increased by 8 points and closed at 2452 points , however the cape index was up by al ...
Sunday, 03 October 10
NALCO TO FINALIZE INDONESIA COAL DEAL BY JANUARY - HINDUSTAN TIMES
HindustanTimes reported that, state-owned National Aluminium Company (NALCO) will finalise a deal with a coal source in Indonesia for its $4 billion ...
Sunday, 03 October 10
INDONESIA WILL BECOME A NET IMPORTER OF ENERGY IN 2030 - BPPT
Jakarta Updates reported that,Indonesian Agency for the Assessment and Application of Technology (BPPT) predicted that the energy situation in Indon ...
Saturday, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
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- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
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