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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, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
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- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- PTC India Limited - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- The University of Queensland
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
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