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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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Monday, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
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- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
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- Rashtriya Ispat Nigam Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
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- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
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- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
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- Interocean Group of Companies - India
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- Coal and Oil Company - UAE
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- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
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- Minerals Council of Australia
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- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
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- Star Paper Mills Limited - India
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- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
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- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
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- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Sindya Power Generating Company Private Ltd
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- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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