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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, 23 July 09
COAL IMPORTS SURGE; EXPORTS DOWN IN H1
China Trade Information reported that, China’s coal imports surged by 126.3 percent year-on-year in the first half of 2009, reaching 48.3 mill ...
Thursday, 23 July 09
SRI LANKA CALLS FOR COAL SUPPLY BIDS
Daily Mirro reported that, In a move to install the country’s first coal power plant, Sri Lanka has invited bids to supply 2.4 million metric ...
Thursday, 23 July 09
POWER INVESTORS TURN BACKS ON VIETNAMESE COAL IMPORTERS
VietNamNet Bridge reported that, Investors of power plants always seek foreign coal sources to import themselves, believing they can come by it chea ...
Wednesday, 22 July 09
BERAU COAL DRAWS LOCAL, CHINESE BIDS - SOURCES
* Indonesian coal firm draws local, Chinese bids-sources
* Deal could value Berau at more than $1 billion-sources
Reuters reported that, China' ...
Wednesday, 22 July 09
ONE TENDERS FOR 114,000 MT FOR NOV-JAN
Moroccan state-owned power utility Office National de l’Electricité (ONE) has launched a tender for three handymax shipments of coal fo ...
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- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- The University of Queensland
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- PTC India Limited - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
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