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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, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
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- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
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