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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
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- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
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