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