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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, 17 December 09
THE 6TH CLEAN ENERGY FORUM - CLEAN COAL 2010
COALspot.com (China) - Press Release: The 6th Clean Energy Forum--Clean Coal 2010 January 27-29, 2010 Renaissance Tianjin Teda Hotel And Conven ...
Thursday, 17 December 09
JFE STEEL INVESTS $555 MILLION IN AUSTRALIA COAL MINE
JFE Steel Corp., Japan’s second- largest producer, will invest 50 billion yen ($555 million) in a coal mine in Queensland, Australia, includin ...
Thursday, 17 December 09
CHINA, INDIA DEMAND MAY BOOST THERMAL COAL PRICE, JPMORGAN SAYS
Demand for thermal coal from China and India may boost prices of the fuel to $80 a metric ton next year amid reduced supplies and lower inventories, ...
Thursday, 17 December 09
RBCT PROBLEMS TO CAUSE STEAM COAL PRICE SPIKE IN Q1
Bugs in the new computer system at South Africa's Richards Bay Coal Terminal and persistent rail problems will make it impossible for exporters to ...
Thursday, 17 December 09
CIL TO IMPORT 4 MILLION TONNES COAL FOR NTPC
The country's largest coal miner Coal India Ltd (CIL) will import 4 million tonnes of coal for state-run power company NTPC.
"Earlier, ther ...
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- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- VISA Power Limited - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
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