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