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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, 16 December 09
COAL MARKETS 2010 CONFERENCE - PRESS RELEASE
COALspot.com (Singapore) Press Release – Back for the 8th year, Coal Markets 2010 will be taking place in Singapore on 28 – 29 Jan ...
Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring ba ...
Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coki ...
Wednesday, 16 December 09
UAE'S RAS AL KHAIMAH TO INVEST $5.2B IN EAST KALIMANTAN PROJECT
Shrugging off neighbor Dubai’s debt problems, the smaller United Arab Emirate of Ras Al Khaimah announced on Tuesday that it would increase it ...
Wednesday, 16 December 09
COECLERICI EYES SECOND RUSSIA COAL MINE
* CEO says "seriously considering" mid-small size purchase
* Will use mine to increase exports to Asia
* Says delays at ports will not c ...
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- PTC India Limited - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
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