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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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Friday, 26 June 09
BAYAN TARGETS GROSS PROFIT TO RISE BY 86.2 PERCENT
Local coal producer publicly listed PT Bayan Resources is targeting this year's gross profit to rise by 86.2 percent on the back of higher sales vo ...
Thursday, 25 June 09
INDIA'S ULTRATECH BUYS 500,000T S.AFRICA COAL
Indian cement maker Ultratech has bought 10 handymax cargoes of South African coal at $73.00-$74.00 a tonne CIF for July-September delivery, Indian ...
Wednesday, 24 June 09
NTPC BURNS MORE COAL TO PRODUCE ELECTRICITY
A tonne of coal is the same as another tonne of coal, you might think.
But power major NTPC Ltd is finding that this year’s coal is not yie ...
Wednesday, 24 June 09
NTPC, COAL INDIA TO BUY MINING ASSETS OVERSEAS
State-owned utility National Thermal Power Corporation (NTPC) and the largest coal producer Coal India are in advanced stages of acquiring mining as ...
Tuesday, 23 June 09
NEWCASTLE WEEKLY COAL EXPORTS DECREASE 15%; SHIP QUEUE RISES
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 15 percent last week while the numb ...
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- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
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