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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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Thursday, 04 June 09
ASIA COAL - PRICES RISE TO 31/2 MTH HIGH ON OIL, ECONOMY - INTERACTIVE INVESTOR
Interactive Investor reported that, Prices of power-station coal from Australia, a benchmark for Asia, rose to a three-and-a-half-month high of over ...
Thursday, 04 June 09
PTT: RESTRUCTURING BUSINESS, DIVERSIFYING INTO COAL - EASYBOURSE
Thailand's largest energy conglomerate, PTT PCL (PTT.TH), will diversify into coal as part of its business restructuring, Senior Executive Vice Pre ...
Thursday, 04 June 09
ADARO SECURES THREE NEW CONTRACTS, SAYS OUTLOOK POSITIVE - THE JAKARTA POST
Publicly listed PT Adaro Energy, the country's second largest coal miner, announced Wednesday it had secured three new coal contracts from buyers f ...
Wednesday, 03 June 09
XSTRATA, KOMIPO AGREE SOME '09 COAL TONNAGE AT $63/T- REUTERS
South Korean utility Korea Midland Power Co (KOMIPO) has agreed to buy part of its 2009 term contract tonnage from Xstrata's coal unit at about $63 ...
Wednesday, 03 June 09
KOSEP SEEKS UP TO 3 MLN TONNES OF COAL - REUTERS
Korea South-East Power Co Ltd (KOSEP) has issued four tenders seeking a total of 3 million tonnes of coal for delivery between 2009 to 2011, a tende ...
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- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Australian Coal Association
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
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