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