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