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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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Thursday, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
Wednesday, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
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- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
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