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