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