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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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Saturday, 27 June 09
HEAVY CONGESTION AT AUSTRALIAN PORTS REACHING ALL TIME HIGH TO 120 SHIPS IN EAST COAST AUSTRALIA - VISTAAR SHIPPING
COALspot.com (Singapore): The market this week was a bit soft and the BDI was down by almost 10 pct and closed at 3,703 points.
The drop in BDI i ...
Friday, 26 June 09
INDONESIA INVESTORS EYE BHP BILLITON COAL PROJECT
About four Indonesian investors are interested in taking over a coal project owned by BHP Billiton Ltd, a senior government mining official said.
...
Friday, 26 June 09
SOUTH AFRICA'S CONSULTING GROUP OPENS OFFICES IN CHINA, INDONESIA
Consulting engineering company SRK Consulting has opened new offices in Asia to cope with the growing demand for its services in the region.
The ...
Friday, 26 June 09
RUSSIA MECHEL TO DELIVER 2 MLN T COKING COAL TO ASIA
Russian steel and coal producer Mechel said on Thursday it had signed contracts to deliver about 2 million tonnes of coking coal concentrate to unna ...
Friday, 26 June 09
SA COAL EXPORTS UNLIKELY TO BREACH 65MT THIS YEAR
Coal volumes railed to South Africa’s Richards Bay Coal Terminal (RBCT) during the rain-affected first quarter of 2009 had fallen well short o ...
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- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- The University of Queensland
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- White Energy Company Limited
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
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