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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, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
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- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
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- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
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