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