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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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Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
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- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
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