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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, 13 June 09
CLEARLY THE DRIVER FOR DRY BULK MARKET SEEMS TO BE IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com (Singapore): The market saw mixed results last week. The beginning of the week saw the indices dropping including the futures , however t ...
Friday, 12 June 09
SOUTH SUMATERA SPEEDS UP INTERNATIONAL HARBOR CONSTRUCTION - TEMPO INTERACTIVE
The South Sumatera Government will speed up construction of the international harbor Tanjung Api-Api. The harbor is a strategic entry point for comm ...
Friday, 12 June 09
CHINA SHENHUA NOT EYEING NEW FOREIGN COAL MINES - MEDIA
China Shenhua Energy Co Ltd , the top Chinese coal miner, will not consider buying any major overseas mines before it starts operating the Watermark ...
Friday, 12 June 09
CHINA TOP POWER COS SIGN REGIONAL COAL DEALS - REUTERS
China's top five power generating groups have signed 2009 coal supply contracts with miners in Guizhou and Xinjiang, with prices up 4 percent on th ...
Friday, 12 June 09
MERCATOR LINES TARGETS 30 MILLION TONNE FROM MOZAMBIQUE COAL MINE - STEEL GURU
India’s second largest private shipping company Mercator Lines has targeted production of 30 million tonnes of coal from its Mozambique mine o ...
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- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- White Energy Company Limited
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
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