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