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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, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
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- GN Power Mariveles Coal Plant, Philippines
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- Wood Mackenzie - Singapore
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- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
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- Planning Commission, India
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- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
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- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
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- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
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- Timah Investasi Mineral - Indoneisa
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- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
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- Leighton Contractors Pty Ltd - Australia
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- Georgia Ports Authority, United States
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- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
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- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
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- Economic Council, Georgia
- Electricity Authority, New Zealand
- Australian Coal Association
- Siam City Cement - Thailand
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- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
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- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
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- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
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- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
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- Makarim & Taira - Indonesia
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- Bukit Makmur.PT - Indonesia
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- Ministry of Mines - Canada
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- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- White Energy Company Limited
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
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