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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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Tuesday, 12 May 09
BANPU'S PROFIT DOUBLES TO RECORD AFTER SALES JUMP - BLOOMBERG
BANPU Pcl, Thailand’s biggest coal producer, reported first-quarter profit more than doubled to a record after higher prices for the fuel boos ...
Tuesday, 12 May 09
COAL IN PLACE, GMR PLANS 2,000-MW THERMAL PLANT - BUSINESS-STANDARD
GMR ENERGY, a subsidiary of Bangalore-based infrastructure company GMR Infrastructure Ltd, is planning to set up a 2,000-Mw thermal power plant near ...
Monday, 11 May 09
SOUTH AFRICA PROBLEMS SLOW INDIA COAL BUYING - MINE WEB
Indian imports of South African coal are likely to be close to 12 million tonnes in 2009, up from 10 million last year.
Indian coal buyers were a ...
Saturday, 09 May 09
THE WEEK SAW BIT OF HECTIC ACTIVITY IN THE FREIGHT MARKET - VISTAAR SHIPPING
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, one of the experienced ship operator in Singapore, said, the week saw bit of hectic ac ...
Saturday, 09 May 09
CHINA PLANS TO BUILD COAL STOCKPILE BASES IN SHANDONG - BLOOMBERG
China, the world’s largest coal producer and consumer, plans to build stockpiles of the fuel in the eastern province of Shandong to ensure sup ...
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- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
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- Medco Energi Mining Internasional
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- Commonwealth Bank - Australia
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- The University of Queensland
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- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
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- Sakthi Sugars Limited - India
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- Indonesian Coal Mining Association
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- London Commodity Brokers - England
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- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
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- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
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- Bhushan Steel Limited - India
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- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
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- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
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- Xindia Steels Limited - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
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