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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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Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
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- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Bhatia International Limited - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
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