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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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Friday, 07 August 09
COAL-PRICE FORECAST RAISED AT MERRILL ON CHINA, INDIA DEMAND
Bloomberg reported that, Bank of America Corp.’s Merrill Lynch & Co. unit increased its price forecast for Asian power-station coal becaus ...
Friday, 07 August 09
CHINESE DEMAND FOR FOREIGN COAL SOARS
Mining Weekly reported that, Chinese coal imports rocketed by 126,3%, year-on-year, in the first half of this year, the country’s customs auth ...
Thursday, 06 August 09
RICHARDS BAY COAL SHIPMENTS FELL 3% ON YEAR IN JULY
Bloomberg reported that, Richards Bay Coal Terminal, Africa’s largest coal-export facility, exported 3 percent less of the fuel in July than i ...
Thursday, 06 August 09
NTPC LOOKS TO BYPASS STATE TRADING FIRMS ON COAL IMPORT
A reduced coal import bill for NTPC could lead to lower power tariffs
Live mint.com reported that, India’s largest power generation utility ...
Thursday, 06 August 09
CHINA JULY COAL IMPORTS AT 9.5 MLN T, DEMAND FIRM
* Coal imports at key ports in July 2.8 times year-ago levels
* July coal imports down nearly 40 percent from June
* China still buying overseas c ...
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- Sical Logistics Limited - India
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- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
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- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
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- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
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- IHS Mccloskey Coal Group - USA
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- Africa Commodities Group - South Africa
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- Baramulti Group, Indonesia
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- Vedanta Resources Plc - India
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- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
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- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
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- Australian Commodity Traders Exchange
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- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
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