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