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