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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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Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
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- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- PTC India Limited - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
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