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