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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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Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
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- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- The University of Queensland
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
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