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