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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, 17 December 09
THE 6TH CLEAN ENERGY FORUM - CLEAN COAL 2010
COALspot.com (China) - Press Release: The 6th Clean Energy Forum--Clean Coal 2010 January 27-29, 2010 Renaissance Tianjin Teda Hotel And Conven ...
Thursday, 17 December 09
JFE STEEL INVESTS $555 MILLION IN AUSTRALIA COAL MINE
JFE Steel Corp., Japan’s second- largest producer, will invest 50 billion yen ($555 million) in a coal mine in Queensland, Australia, includin ...
Thursday, 17 December 09
CHINA, INDIA DEMAND MAY BOOST THERMAL COAL PRICE, JPMORGAN SAYS
Demand for thermal coal from China and India may boost prices of the fuel to $80 a metric ton next year amid reduced supplies and lower inventories, ...
Thursday, 17 December 09
RBCT PROBLEMS TO CAUSE STEAM COAL PRICE SPIKE IN Q1
Bugs in the new computer system at South Africa's Richards Bay Coal Terminal and persistent rail problems will make it impossible for exporters to ...
Thursday, 17 December 09
CIL TO IMPORT 4 MILLION TONNES COAL FOR NTPC
The country's largest coal miner Coal India Ltd (CIL) will import 4 million tonnes of coal for state-run power company NTPC.
"Earlier, ther ...
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- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
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