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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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Friday, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
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- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Independent Power Producers Association of India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
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