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