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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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Friday, 14 November 14
U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY WEEK ENDING NOVEMBER 08
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Thursday, 13 November 14
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“One man’s benefit, is another man’s demise” is a phrase which can be used to describe today’s situation in the dry b ...
Thursday, 13 November 14
COAL MINISTER WANTS INDIA TO STOP COAL IMPORTS IN TWO OR THREE YEARS
COALspot.com: India to ramp up coal production to a billion tonnes by 2019 from its current level of 490 million tones. According to Power and Coal ...
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- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
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- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
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