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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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Thursday, 14 January 10
INDIANS RESUME S. AFRICA COAL BUYING AGAINST INDEX - REUTERS
Indian trade buyers have resumed buying of South African prompt coal cargoes after a two-month hiatus but are opting for index-linked pricing, hopin ...
Wednesday, 13 January 10
STEAMING COAL SUPPLY SPOT CONTRACT FOR TAEAN POWER PLANT
COALspot.com (South Korea): Korea Western Power Co., Ltd is looking for total 1.12 million tons of Bituminous Coal for TAEAN Power Plant.
Accord ...
Wednesday, 13 January 10
INDONESIA ISSUES COAL, METAL DECREE
Indonesia has issued a ministerial decree which requires metal and coal miners to set aside a certain amount of their production for domestic needs, ...
Wednesday, 13 January 10
RESTING TIME FOR INDONESIAN COAL LOADING VESSELS
COALspot.com (Indonesia): 11 - 15 vessels are waiting in anchorages of Muara Berau and Tanjung Pemancingan to load total about 700,000 – ...
Wednesday, 13 January 10
SOUTH AFRICA STEAM COAL PRICE FALLS SHARPLY
Reuters reported that South African physical coal prices fell sharply on Tuesday with a March cargo trade at USD 87.5 a tonne FOB Richards Bay and d ...
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- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- The University of Queensland
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
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