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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, 07 September 09
VALE SPENT $300 MILLION AT MOZAMBIQUE COAL MINE
Bloomberg rported that, Vale SA, the world’s biggest iron- ore producer, has so far spent about $300 million of the $1.3 billion investment in ...
Monday, 07 September 09
INDIA MAY BOOST COAL IMPORTS FROM INDONESIA - PLAN JVS
WSJ reported taht, India agreed to study setting up joint ventures with Indonesian companies to acquire coal assets, and look at other means of impo ...
Monday, 07 September 09
INDIAN COAL MAY NOT POWER NEW UMPPS
The Economic Times reported that, bidders for new ultra mega power projects (UMPP) may not get assured coal supplies from domestic mines. As per the ...
Saturday, 05 September 09
THE ECI / CHINA (S7) ROUTE SOFTENED BY ALMOST 12% AND THE CHARTER HIRE WAS AT US$ 16,346 PER DAY - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI almost same as last week at 2,415 points.The Panamax index went up b ...
Saturday, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
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- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
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- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
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- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
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- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
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- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
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