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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, 29 October 09
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
ME ...
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- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
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