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