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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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Wednesday, 22 July 09
TAIPOWER RECEIVES 37 OFFERS IN TENDERS
State utility Taiwan Power has received offers for 37 panamax cargoes of bituminous and sub-bituminous coal in two tenders involving 12 panamax ship ...
Wednesday, 22 July 09
PRIME MINISTER APPROVAL SOUGHT TO HIKE COAL PRICES IN INDIA
PTI reported that decrying the low prices of the industrial fuel, the coal ministry will approach Dr Manmohan Singh PM of India next month for raisi ...
Tuesday, 21 July 09
BHATIA SAYS GETS ORDER FOR 800,000T COAL FROM KPCL
Reuters reported that, Indian traders Bhatia received on Tuesday a purchase order for 800,000 tonnes thermal coal at $63.00 C&F from Karnataka P ...
Tuesday, 21 July 09
NZ'S PIKE RIVER SAYS SELLS COAL AT $128 PER TONNE
Reuters reported that, New Zealand miner Pike River Coal said on Tuesday it had sold its premium hard coking coal at $128 a tonne for the curr ...
Tuesday, 21 July 09
NEWCASTLE COAL EXPORTS FALL 5%, SHIP QUEUE INCREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 5 per ...
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- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- White Energy Company Limited
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
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