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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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Wednesday, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains sup ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
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- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- The University of Queensland
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
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