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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
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- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Australian Coal Association
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
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