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