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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, 06 June 09
COAL PRICE HIT RECORD ON STRONG CHINA DEMAND - INVESTMENT WATCH
Investment watch reported that, “Coal price hit a new high of over $72 a tonne at Australia’s Newcastle Port, a benchmark for Asia, spur ...
Friday, 05 June 09
CEMENT INDUSTRY NEEDS POLICY ON FLY ASH
H.M. Bangur, President of Cement Manufacturers' Association, on the objectives and economic impact of the proposed national policy on utilisation o ...
Thursday, 04 June 09
PAKISTAN TO IMPORT MORE COAL FROM INDONESIA - SEATRADE
COALspot.com (Pakistan): Richards bay to Pakistan sea freight has touched US$ 20.00 for 40,000/10 pct steam size in June 2009. South African c ...
Thursday, 04 June 09
CHINA'S SHANXI PROVINCE CONSIDERS COAL FUTURES BOURSE - MINE WEB
Mine Web reported that, China hopes to establish a coal futures exchange to obtain more rights on international pricing.
China's largest coal pr ...
Thursday, 04 June 09
CHINA QINHUANGDAO COAL STOCK JUMPS BY 36.2% MOM - STEELGURU
SteelGuru reported that, Sources indicated that, coal stock at Qinhuangdao port, China's major coal port has reached 4.88 million tonnes increasing ...
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- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
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- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Minerals Council of Australia
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- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
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- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
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- Merrill Lynch Commodities Europe
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
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- Rashtriya Ispat Nigam Limited - India
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- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- White Energy Company Limited
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- Thiess Contractors Indonesia
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- Indian Energy Exchange, India
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- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
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- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
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- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- PTC India Limited - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
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