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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 24 July 09
INDIA TAKES 9 MILLION TONNES S. AFRICAN COAL JAN - JUNE
Reuters reported that, India accounted for nearly 9 million tonnes of South Africa's January-June exports of around 28 million tonnes, industry sour ...
Thursday, 23 July 09
KOMIPO LAUNCHES TWO COAL TENDERS
Korea Midland Power on Wednesday launched two tenders to procure bituminous or semi-anthracite coal for August to September delivery. Bids close on J ...
Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA
Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inke ...
Thursday, 23 July 09
KEPCO BUYS 1.5% STAKE IN ADARO ENERGY FOR US$ 56.5M
WSJ reported that, state-run utility Korea Electric Power Corp., or Kepco, Thursday said it has acquired a 1.5% stake in Indonesian coal miner, PT A ...
Thursday, 23 July 09
INDONESIA COAL-PRICES CLIMB TO $80, INDIAN DEMAND SLOWS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, jumped to nearly $80 a tonne this week, while Indonesi ...
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- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
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- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
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- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
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- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Central Java Power - Indonesia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
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