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