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