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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
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- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Minerals Council of Australia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Australian Coal Association
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
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