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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, 24 August 09
10 LAKH (1 MILLION) TONNE COAL BURNT IN KPT
Times of India reported that, In an unusual phenomenon, 10 lakh tonne coal cache stored at a plot in Kandla Port Trust was reduced to ashes after it ...
Monday, 24 August 09
LANCO IN TALKS FOR INDONESIAN COAL MINE
Economic Times of India reported that, Infrastructure company Lanco Infratech is in advanced talks with Indonesian engineering, procurement and cons ...
Saturday, 22 August 09
'THE BDI IS LIKELY TO BE HOLDING AROUND 2,500 POINTS' - SHIPPING UPDATE
COALspot.com (Singapore): The dry bulk market continued to be soft and the BDI dropped by 10 percent this week and closed at 24,68 points this week. ...
Saturday, 22 August 09
INDIAN COAL BUYERS RE-EMERGE WITH FRESH TENDERS
Reuters world's largest international multimedia news agency reported that,Indian coal end-users have re-emerged after a few weeks with several fre ...
Friday, 21 August 09
HUANENG YIMIN TO HIKE COAL OUTPUT
China Daily, the largest English portal in China reported that, China's first large coal-electricity joint project, Huaneng Yimin Coal Electricity ...
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- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
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