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