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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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Wednesday, 16 September 09
NAPOCOR GETS 3 OFFERS IN COAL TENDER
ABS-CBN news reported that, The Philippines' state-run National Power Corp. (Napocor) said on Wednesday it received offers from 3 Indonesian firms ...
Wednesday, 16 September 09
S.KOREA KOSEP BUYS 1.06 MLN T COAL-SOURCE
* 6,080 kcal/kg at $63-65, 4,900-5,350 kcal/kg at $56-58
* Initially about 5 mln T offered for tender
Reuters reported that, Korea South ...
Tuesday, 15 September 09
CHINA COAL EXPORT ROSE M-O-M FOR THE STRAIGHT 3 MONTHS
Alibaba reported that, In the January-August period, China coal exports slid by 55.9% to 14.83mln tons month on month. In August, China exported 1.9 ...
Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the f ...
Monday, 14 September 09
INDONESIAN GOVT UPBEAT ABOUT $1.5B, 185-KM COAL RAILWAY PROJECT
In addition to a 30-year concession right, the government will also award a competitive pricing scheme as an incentive to lure investors in a US$1.5 ...
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- MS Steel International - UAE
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
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- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Parliament of New Zealand
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- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
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- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
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