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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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Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- The University of Queensland
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
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- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Parliament of New Zealand
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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