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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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- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
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- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
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- VISA Power Limited - India
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- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
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- Marubeni Corporation - India
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- Energy Development Corp, Philippines
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- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
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- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- Karbindo Abesyapradhi - Indoneisa
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- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
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- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
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- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Australian Coal Association
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- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
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- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
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