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