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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, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
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- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- The University of Queensland
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
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