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