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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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Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
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Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
Thursday, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
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- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- PTC India Limited - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Australian Coal Association
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Deloitte Consulting - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
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