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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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Tuesday, 21 July 09
FIRST QUARTER COAL MARKET AND EURACOAL'S OUTLOOK FOR THE FUTURE
Euracoal reports that for the first time in many years, the world market for hard coal fell by some 8 % during the first quarter 2009. This latest E ...
Monday, 20 July 09
CHINAS COAL DEMAND, OUTPUT TO PICK UP IN H2 - GROUP 2
Financial24 reported that, China's coal demand is expected to gradually pick up in the second half of the year, and coal output will likely grow fa ...
Monday, 20 July 09
ADANI POWER LAUNCHES IPO, AIMS HIGHER CAPACITY
Economic Times reported that, Adani Power Ltd, a power project development company, promoted by Adani Enterprise went for an initial public offering ...
Monday, 20 July 09
BANPU'S SECOND-HALF PROFIT MAY DROP ON COAL PRICES
Bloomberg Reported that, Banpu Pcl, Thailand’s biggest coal producer, expects profit to decline in the second half from the first six months a ...
Monday, 20 July 09
CHINA COAL PRODUCES 52.7 MLN TONNES OF COAL IN 1H, UP 5.4 PCT
China Mining reported that, China Coal Energy Co., the country's second largest coal producer, said Saturday that it produced 52.67 million tonnes ...
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- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
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- Mercator Lines Limited - India
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- Planning Commission, India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
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- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- The University of Queensland
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- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
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- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- MS Steel International - UAE
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- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
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- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
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- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
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- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
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- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Australian Coal Association
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
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