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