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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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Wednesday, 16 September 09
NAPOCOR GETS 3 OFFERS IN COAL TENDER
ABS-CBN news reported that, The Philippines' state-run National Power Corp. (Napocor) said on Wednesday it received offers from 3 Indonesian firms ...
Wednesday, 16 September 09
S.KOREA KOSEP BUYS 1.06 MLN T COAL-SOURCE
* 6,080 kcal/kg at $63-65, 4,900-5,350 kcal/kg at $56-58
* Initially about 5 mln T offered for tender
Reuters reported that, Korea South ...
Tuesday, 15 September 09
CHINA COAL EXPORT ROSE M-O-M FOR THE STRAIGHT 3 MONTHS
Alibaba reported that, In the January-August period, China coal exports slid by 55.9% to 14.83mln tons month on month. In August, China exported 1.9 ...
Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the f ...
Monday, 14 September 09
INDONESIAN GOVT UPBEAT ABOUT $1.5B, 185-KM COAL RAILWAY PROJECT
In addition to a 30-year concession right, the government will also award a competitive pricing scheme as an incentive to lure investors in a US$1.5 ...
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- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Planning Commission, India
- Indian Oil Corporation Limited
- The University of Queensland
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Australian Coal Association
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
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