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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 17 August 09
CHINESE COAL PURCHASE COULD START A TREND
ABC Rural reported that, The takeover of a major Australian coal mining company by Chinese-owned Yanzhou has raised fears coal markets could be domi ...
Saturday, 15 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The dry bulk market continued to be soft in the beginning of the week, however towards to end of the week the BDI recovere ...
Friday, 14 August 09
ASIA GREEN TO SELL MORE COAL
I Stock Analyst reported that, Asia Green Energy Plc (AGE) aims to increase its coal sales by 20 percent to 1 million tonnes this year, given the gl ...
Friday, 14 August 09
INDONESIA COAL-PRICES FALL TO $74, INDIA EYES SEPT CARGOES
Reuters reported that, Prices of power-station coal from Australia fell to around $74 a tonne as demand eased, while Indian buyers started to look f ...
Friday, 14 August 09
GUACOLDA STARTS THIRD COAL-FIRED UNIT
Macorship reported that, Chile’s Empresa Electrica Guacolda said that the third unit at its Guacolda coal-fired power plant began supplying po ...
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- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- The University of Queensland
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Mercator Lines Limited - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
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