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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, 12 June 09
THERMAL COAL PRICE REMAINS STABLE IN SHANXI - STEEL GURU
It is reported that coming into June, no major changes are seen in coal supply-demand relations in Shanxi province. Statistics of Qinhuangdao port, ...
Thursday, 11 June 09
PT NALCO PLANS TO CONSTRUCT COAL-FIRED POWER PLANT IN SOUTH SUMATRA - ENERGY BUSINESS REVIEW
PT Nalco (National Aluminium Company Limited), an Indian-based company, plans to construct a coal-fired power plant in South Sumatra. The company in ...
Thursday, 11 June 09
COAL PRODUCERS TO SEE BOOST IN DEMAND FROM ASIA PACIFIC - JAKARTA POST
The Jakarta Post reported that, at the recent 15th Coaltrans conference in Bali, we noted concerns related to rising oil prices at a faster pace tha ...
Wednesday, 10 June 09
BHP TO CUT 450 JOBS AT INDONESIAN COAL PROJECT - REUTERS
Reuters reported that, BHP Billiton Ltd will lay off all 450 workers at its Indonesian coal project after deciding not to go ahead with the pr ...
Monday, 08 June 09
PTC INDIA TO ACQUIRE COAL MINES IN AUSTRALIA, INDONESIA - PTI NEWS
PTI reported that, State-owned Power Trading Corp today said it would acquire coal properties overseas and has identified mines in Australia and Ind ...
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- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
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