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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, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall
* Asia 2010 thermal coal imports expected to rise 6.3 pct
* China to become net im ...
Tuesday, 22 September 09
PANAMA CANAL EXPANSION MAY AID COLOMBIA COAL TO ASIA
* Colombia producers hope for growth in Asia shipments
* Panama Canal will allow smaller coal Capesize vessels
* Australia, Indonesia to remain bi ...
Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle.
Australian ...
Friday, 18 September 09
PEABODY ENERGY ESTABLISHES ASIAN COAL TRADING HUB IN SINGAPORE
Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...
Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
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- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
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