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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, 16 December 09
COAL MARKETS 2010 CONFERENCE - PRESS RELEASE
COALspot.com (Singapore) Press Release – Back for the 8th year, Coal Markets 2010 will be taking place in Singapore on 28 – 29 Jan ...
Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring ba ...
Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coki ...
Wednesday, 16 December 09
UAE'S RAS AL KHAIMAH TO INVEST $5.2B IN EAST KALIMANTAN PROJECT
Shrugging off neighbor Dubai’s debt problems, the smaller United Arab Emirate of Ras Al Khaimah announced on Tuesday that it would increase it ...
Wednesday, 16 December 09
COECLERICI EYES SECOND RUSSIA COAL MINE
* CEO says "seriously considering" mid-small size purchase
* Will use mine to increase exports to Asia
* Says delays at ports will not c ...
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- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
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