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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
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- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
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