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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, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said ...
Thursday, 18 March 10
COAL IMPORTS SOAR IN NANTONG PORT OF JIANGSU PROVINCE CHINA
BloombergUTV reported that, Coal imports at Nantong Port, located in coastal China's Jiangsu Province, soared 13 times to 581,000 tonnes in the fir ...
Thursday, 18 March 10
INNER MONGOLIA TO CAP COAL OUTPUT AT 700 MLN TONS IN 2010
Alibaba / China Knowledge reported that, Inner Mongolia, China's northern border autonomous region, plans to control coal output at 700 million ton ...
Thursday, 18 March 10
THE INDIAN MARKET WAS QUIET, BUT BECAUSE OF THE TIGHT TONNAGE SITUATION STILL FIRM - FEARNLEYS AS
Handy
Activity continues to be solid in the Atlantic.
Supramax physical market is strong which pushed the BSI to a 17 month high at ...
Thursday, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
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- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- SMC Global Power, Philippines
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Eastern Coal Council - USA
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Australian Coal Association
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
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