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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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Thursday, 29 October 09
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
ME ...
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- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
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