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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
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Thursday, 12 August 10
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Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
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Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
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Wednesday, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
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- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
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