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