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