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