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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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Friday, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
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- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
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- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- The University of Queensland
- Tamil Nadu electricity Board
- PTC India Limited - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
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- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
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- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
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- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
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