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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, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
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- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
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