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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, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall
* Asia 2010 thermal coal imports expected to rise 6.3 pct
* China to become net im ...
Tuesday, 22 September 09
PANAMA CANAL EXPANSION MAY AID COLOMBIA COAL TO ASIA
* Colombia producers hope for growth in Asia shipments
* Panama Canal will allow smaller coal Capesize vessels
* Australia, Indonesia to remain bi ...
Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle.
Australian ...
Friday, 18 September 09
PEABODY ENERGY ESTABLISHES ASIAN COAL TRADING HUB IN SINGAPORE
Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...
Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
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- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- PTC India Limited - India
- The University of Queensland
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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