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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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Wednesday, 30 December 09
INDIA CEMENTS TO FINALIZE 3 SHIPMENTS OF SOUTH AFRICAN COAL NEXT WEEK
COALspot.com (India): India Cements is looking for 3 shipments (150,000MT) of South African coal for January – March 2010 delivery on C ...
Wednesday, 30 December 09
BANPU EXPECTS STABLE COAL PRICES
2009 revenue growth will be hard to beat
Banpu Plc, Asean's largest coal miner, expects coal prices to stay firm at about US$80 per tonne in the f ...
Wednesday, 30 December 09
CIL DELISTS JAGUAR ENERGY FOR KODA LINKS
Coal India Ltd (CIL) has dropped Indonesia-based Jaguar Energy & Power Ltd from the list of companies, it intended to forge partnerships with to ...
Wednesday, 30 December 09
COAL PRICE RISE REQUEST DENIED
A proposal by the Viet Nam National Coal and Mineral Industries Group to double the price of coal has been turned down by the Ministry of Industry a ...
Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Medco Energi Mining Internasional
- The University of Queensland
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Bhatia International Limited - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
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