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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, 23 May 09
THE SPOT SUPRAMAX CONTINUED TO BE FIRM - VISTAAR SINGAPORE
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore, said, the beginning of the week continued ...
Saturday, 23 May 09
INDONESIA'S COAL OUTPUT SLUMPS IN Q1 ON LOWER PRICES, FALLING DEMAND - THE JAKARTA GLOBE
Falling international coal prices, bad weather and other problems cut first-quarter coal output by 50 percent to 30 million tons against an initial ...
Saturday, 23 May 09
INDIAN GOVT PLANS TO BUILD FIVE COAL-BASED POWER PLANTS AT $3.5B TO END CRISIS - THE FINANCIAL EXPRESS
The government has started working on a plan to set up five coal-based power plants with combined capacity of 2,500 mega watt to solve the country' ...
Saturday, 23 May 09
INTERNATIONAL COAL VENTURES PVT LTD FORMED - INDIA SERVER
National Thermal Power Corporation Limited (NTPC Ltd), the largest thermal power generating company of India, has entered into a joint venture with ...
Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
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- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
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- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
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- PTC India Limited - India
- Orica Australia Pty. Ltd.
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- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
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- Metalloyd Limited - United Kingdom
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- The University of Queensland
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- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
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- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
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