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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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Saturday, 04 July 09
S. AFRICA'S RICHARDS BAY TO CAP NEW COAL VOLUMES, MININGMX SAYS
South Africa’s Richards Bay Coal Terminal is proposing restrictions on the quotas it awards to coal exporters from the so-called Phase 5 expansi ...
Saturday, 04 July 09
DALRYMPLE BAY COAL TERMINAL EXPANSION COMPLETE
BABCOCK & Brown Infrastructure has completed expansion of the Dalrymple Bay Coal Terminal (DBCT) near Mackay, Queensland.
The terminal is now ...
Friday, 03 July 09
CHINA SHENHUA TO DOUBLE COAL CAPACITY BY 2014-PAPER
China Shenhua Energy Co Ltd plans to double its annual coal production capacity by 2014 from this year's level, the China Securities Journal report ...
Friday, 03 July 09
UKRAINE CUTS COAL PRODUCTION 9.3 PERCENT IN H1
Ukraine reduced coal production approximately 9.3%, or by 3.673 million tonnes, to 35.879 million tonnes in the first half of 2009 compared to the s ...
Thursday, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
* Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand ma ...
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- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- The University of Queensland
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
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