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