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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, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
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- Malabar Cements Ltd - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
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- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Mercator Lines Limited - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
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