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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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Saturday, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
Friday, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
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- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- The University of Queensland
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
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