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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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Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
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- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
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