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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 20 July 09
INDONESIA PRODUCES 72 MILLION MT IN FIRST HALF OF YEAR: OFFICIAL
Indonesia produced 72 million mt of coal in the first half of 2009, or 31.3% of the government’s target this year, a senior government officia ...
Sunday, 19 July 09
JINDAL S&P IN TALKS TO BUY SA COAL MINE FOR RS 350-400 CR (US$ 80 - 90 MILLION)
Economic Times reported that, Naveen Jindal-led Jindal Steel & Power (JSPL) is acquiring a thermal coal mine in South Africa, a top company exec ...
Saturday, 18 July 09
REN POWER CZ COMMISSIONS ANOTHER PHOTOVOLTAIC POWER STATION
COALspot.com (Press Release): REN Power CZ, a company in the Czech Coal Group, has put into operation another photovoltaic power station. The plant ...
Saturday, 18 July 09
THE FUTURE FOR SUPRAMAX FOR NEXT 3 YEARS TILL 2012 WOULD BE AROUND US$ 13,500 PER DAY - CAPT. REDDY
COALspot.com ( Singapore): The market moved up sharply this week , which was quite unexpected.
The BDI was up by 557 which is an increase of 18 ...
Friday, 17 July 09
CHINA COAL-SPOT PRICES EDGE LOWER, SUPPLY APLENTY
China Mining reported that, spot prices in China's top coal shipping port Qinhuangdao edged lower from a week earlier, as supply grew, offsetting t ...
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- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
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