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