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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
Thursday, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
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- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
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