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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, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
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