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