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