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