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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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- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
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- Energy Link Ltd, New Zealand
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- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
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- Ministry of Mines - Canada
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- Wood Mackenzie - Singapore
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- Global Green Power PLC Corporation, Philippines
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- Economic Council, Georgia
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- Indian Oil Corporation Limited
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- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
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- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
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- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
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- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
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- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
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- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
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- IHS Mccloskey Coal Group - USA
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- Globalindo Alam Lestari - Indonesia
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- Formosa Plastics Group - Taiwan
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- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
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- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
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- Ministry of Transport, Egypt
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- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Planning Commission, India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
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- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
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- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
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- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
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