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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, 01 June 09
LAHAT RELIES ON COAL FOR GROWTH
Lahat regency in South Sumatra spans 6,618.27 square kilometers, encompasses 19 districts and covers 528 subdistricts and villages. It is inhabited ...
Monday, 01 June 09
LANDED COST OF IMPORTED COAL HAS INCREASED BY 10 - 15% COMPARE TO EARLY THIS YEAR - PAKISTAN TRADERS
COALspot.com (Pakistan): Due to visiting non commercial vessels occupied commercial berths in Karachi port, coal carrying vessels were sufferi ...
Monday, 01 June 09
LAHAT RELIES ON COAL FOR GROWTH - THE JAKARTA POST
Lahat regency in South Sumatra spans 6,618.27 square kilometers, encompasses 19 districts and covers 528 subdistricts and villages. It is inhabited ...
Saturday, 30 May 09
THE CHINESE IMPORTS OF IRON ORE,COAL AND NICKEL ORE SEEMED TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore,said, the Baltic index rally continued this week ...
Saturday, 30 May 09
COAL INDIA SIGNS FUEL SUPPLY AGREEMENT WITH NTPC - SINDHTODAY
India’s largest coal miner Coal India Friday inked a much-awaited fuel supply agreement (FSA) with power generation major NTPC Ltd.
In the ...
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- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- The University of Queensland
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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