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