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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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Wednesday, 30 December 09
INDIA CEMENTS TO FINALIZE 3 SHIPMENTS OF SOUTH AFRICAN COAL NEXT WEEK
COALspot.com (India): India Cements is looking for 3 shipments (150,000MT) of South African coal for January – March 2010 delivery on C ...
Wednesday, 30 December 09
BANPU EXPECTS STABLE COAL PRICES
2009 revenue growth will be hard to beat
Banpu Plc, Asean's largest coal miner, expects coal prices to stay firm at about US$80 per tonne in the f ...
Wednesday, 30 December 09
CIL DELISTS JAGUAR ENERGY FOR KODA LINKS
Coal India Ltd (CIL) has dropped Indonesia-based Jaguar Energy & Power Ltd from the list of companies, it intended to forge partnerships with to ...
Wednesday, 30 December 09
COAL PRICE RISE REQUEST DENIED
A proposal by the Viet Nam National Coal and Mineral Industries Group to double the price of coal has been turned down by the Ministry of Industry a ...
Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
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- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Attock Cement Pakistan Limited
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