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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 24 July 09
INDIA TAKES 9 MILLION TONNES S. AFRICAN COAL JAN - JUNE
Reuters reported that, India accounted for nearly 9 million tonnes of South Africa's January-June exports of around 28 million tonnes, industry sour ...
Thursday, 23 July 09
KOMIPO LAUNCHES TWO COAL TENDERS
Korea Midland Power on Wednesday launched two tenders to procure bituminous or semi-anthracite coal for August to September delivery. Bids close on J ...
Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA
Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inke ...
Thursday, 23 July 09
KEPCO BUYS 1.5% STAKE IN ADARO ENERGY FOR US$ 56.5M
WSJ reported that, state-run utility Korea Electric Power Corp., or Kepco, Thursday said it has acquired a 1.5% stake in Indonesian coal miner, PT A ...
Thursday, 23 July 09
INDONESIA COAL-PRICES CLIMB TO $80, INDIAN DEMAND SLOWS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, jumped to nearly $80 a tonne this week, while Indonesi ...
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- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Economic Council, Georgia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
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