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