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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, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
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