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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, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- White Energy Company Limited
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Planning Commission, India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
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