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