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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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Friday, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
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