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