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