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