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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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Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
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- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
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