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