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