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