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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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Saturday, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
Friday, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
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- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
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