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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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Tuesday, 22 December 09
NEWCASTLE COAL SHIP QUEUE LONGEST IN TWO YEARS AS EXPORTS SLOW
Bloomberg reported that, the queue of coal ships waiting at Australia’s Newcastle port, the world’s biggest export harbor for the fuel, ...
Monday, 21 December 09
INDONESIA HAS EXPORTED AROUND 195.303 MILLION TONS OF COAL TILL END OF NOVEMBER 2009
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in November 2009, by taking 28.69% of total exported quan ...
Monday, 21 December 09
RUSSIAN COAL MINER SUEK EYES '10 LONDON IPO
* Company valued at around $8-$9 bln - banking source
* IPO could take place in H1 - source
* May list 25 pct of share capital - report
Reuters ...
Monday, 21 December 09
IGCC OUTLOOK CHINA 2010 TO BE HELD IN APRIL 2010 IN SHANGHAI
COALspot.com (China): Press Release - Aiming at unveiling the growth area of IGCC polygeneration, IGCC Outlook China 2010 is planned to be hel ...
Sunday, 20 December 09
GLOBAL COAL MAJORS MAKE THEIR PRESENTATIONS
Major energy companies from four countries, including the U.S., Indonesia and South Africa, have completed detailed presentations before a committee ...
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- Wood Mackenzie - Singapore
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
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