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