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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, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- GMR Energy Limited - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Planning Commission, India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
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