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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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Saturday, 09 January 10
IMPORTED, LOCAL COAL TO BE MIXED IN POWER DRIVE
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Friday, 08 January 10
SA COAL PRICES TO SPIKE ON RESUMED INDIA BUYING
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Friday, 08 January 10
COLOMBIAN COAL STARTS TO MOVE TO CHINA - TRADERS
* Producer sells cape cargo Colombian coal to China
* Firm bids in freight market
* More shipments expected
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Thursday, 07 January 10
PT. BUKIT ASAM TO BUILD NEW COAL LOADING TERMINAL AND COAL LOADER
COALspot.com (Indonesia): PT Bukit Asam (Persero) Tbk, Indonesia’s state owned coal mining company, is planning to build an additi ...
Thursday, 07 January 10
RAMKY PLANS COAL MINING IN INDONESIA
Ramky Infrastructure Limited, a Hyderabad-based integrated infrastructure construction and development management company with strategic emphasis on ...
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- Parliament of New Zealand
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
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