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