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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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Thursday, 30 July 09
PNOC FORGES JOINT VENTURES AS STEPS UP COAL OPERATIONS
The Philippine National Oil Co.-Exploration Corp. has entered joint venture agreements with food and beverage conglomerate San Miguel and Filipinas ...
Thursday, 30 July 09
NAMANE OF SOUTH AFRICA IN SUDAN COAL DEAL, BUSINESS REPORT SAYS
Namane of South Africa in Sudan Coal Deal, Business Report Says
Namane Resources Ltd. of South Africa signed a coal-supply agreement with the Nat ...
Wednesday, 29 July 09
RP COAL DEMAND TO SURGE BY 2014 - PHILIPPINES UPDATE
CEBU, Philippines - With the entry of new coal-fired power generation plants in the Philippines, the Department of Energy (DOE) projected an increas ...
Wednesday, 29 July 09
INDIA HUNGRY FOR OUR COKING COAL ASSETS
The Australian reported that, INDIA is about to embark on a program of rapid coal sector acquisitions in Australia as it looks to plug a huge annual ...
Tuesday, 28 July 09
SHENZHEN ENERGY INKS COAL PURCHASE CONTRACT WITH CHINA SHENHUA
China Knowledge reported that, Shenzhen Energy Group Co Ltd has signed a five-year contract with China Shenhua Energy Co Ltd, which is engaged in th ...
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- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
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