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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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- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
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