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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, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
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- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
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