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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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Wednesday, 05 August 09
PEOPLE'S MINING SHOULD BE REGULATED UNDER RPP MINERBA
The Indonesian Institute of Science (LIPI) has called on the government to include a specific provision for people’s mining in the draft govern ...
Tuesday, 04 August 09
SRI LANKA IS LOOKING FOR 650,000 TON OF COAL NEXT YEAR FOR ITS FIRST 900 MW POWER PLANT.
COALspot.com ( Sri Lanka) : Lanka Coal Company Limited was issued a tender on 23 July 2009 to purchase 650,000 +/- 20% MT Bituminous Coal per a ...
Monday, 03 August 09
ONE YEAR CHARTER RATES FOR SUPRAMAX WAS AT AROUND USD 18,500 - VISTAAR SINGAPORE
COALspot.com (Singapore) : The freight market was flat this week with hardly any change in the BDI.The cape was up by about 4 pct and closed at 5,38 ...
Saturday, 01 August 09
APGENCO SAYS BOUGHT 500,000T MALAYSIAN COAL
The Malaysian Insider reported that, Indian state utility Andhra Pradesh Power Generation Corporation Ltd (Apgenco) has bought 500,000 tonnes of Mal ...
Thursday, 30 July 09
KOMIPO OFFERED 3 MILLION MT IN TENDER, TEN TIMES OVERSUBSCRIBED
Korea Midland has received offers for 3 million mt of bituminous steam coal in its latest tender despite the power utility seeking only 300,000 mt, ...
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- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Australian Coal Association
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- The University of Queensland
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
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