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