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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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Thursday, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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- White Energy Company Limited
- CNBM International Corporation - China
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- The Treasury - Australian Government
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
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- San Jose City I Power Corp, Philippines
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- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
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- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- Parliament of New Zealand
- Africa Commodities Group - South Africa
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- Deloitte Consulting - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Mjunction Services Limited - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
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