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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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- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
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- Kohat Cement Company Ltd. - Pakistan
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- Australian Coal Association
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
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- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- VISA Power Limited - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
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- Maharashtra Electricity Regulatory Commission - India
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- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
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- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
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- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
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