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