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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, 25 September 09
FREIGHT RATE CUTS MAKING SOUTH AFRICAN COAL MORE COMPETITIVE IN ASIAN MARKETS
Mining Weekly reported that, Coaltrans South Africa MD Gerard Strahan highlighted the country’s sudden increase in coal exports to southern Ch ...
Friday, 25 September 09
XSTRATA TO BUILD ITS OWN RAIL CAPACITY TO SHIP AUSTRALIAN COAL
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used by power stations, will establish its own rail haulage capacit ...
Thursday, 24 September 09
INDIA CEMENT CO'S TO AWARD 200,000T COAL TENDER
Reuters reported that, India's biggest cement maker ACC Cement Ltd and Gujarat Ambuja will award on Thursday Sept 25 a tender for 100,000 tonnes ea ...
Thursday, 24 September 09
YUDEAN TO SIGN CO-OPERATION LETTER OF INTENT WITH RUSSIA COAL TRADE COMPANY
In the recent days, Gao Shiqiang, deputy manager of Yudean Group Co., Ltd. went and carried out the friendly talks with SUEK and inked the trade co- ...
Thursday, 24 September 09
ANGLO EYES DOUBLED METALLURGICAL COAL OUTPUT BY 2018
Mining group Anglo American could double its production of coal used for steel making by 2018 if all of its unapproved projects went ahead, the comp ...
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- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Independent Power Producers Association of India
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- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
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- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
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- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Minerals Council of Australia
- Thai Mozambique Logistica
- White Energy Company Limited
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
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