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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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Wednesday, 22 July 09
TAIPOWER RECEIVES 37 OFFERS IN TENDERS
State utility Taiwan Power has received offers for 37 panamax cargoes of bituminous and sub-bituminous coal in two tenders involving 12 panamax ship ...
Wednesday, 22 July 09
PRIME MINISTER APPROVAL SOUGHT TO HIKE COAL PRICES IN INDIA
PTI reported that decrying the low prices of the industrial fuel, the coal ministry will approach Dr Manmohan Singh PM of India next month for raisi ...
Tuesday, 21 July 09
BHATIA SAYS GETS ORDER FOR 800,000T COAL FROM KPCL
Reuters reported that, Indian traders Bhatia received on Tuesday a purchase order for 800,000 tonnes thermal coal at $63.00 C&F from Karnataka P ...
Tuesday, 21 July 09
NZ'S PIKE RIVER SAYS SELLS COAL AT $128 PER TONNE
Reuters reported that, New Zealand miner Pike River Coal said on Tuesday it had sold its premium hard coking coal at $128 a tonne for the curr ...
Tuesday, 21 July 09
NEWCASTLE COAL EXPORTS FALL 5%, SHIP QUEUE INCREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 5 per ...
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- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
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- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
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- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
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- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
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- Wilmar Investment Holdings
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- Karbindo Abesyapradhi - Indoneisa
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- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
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- Neyveli Lignite Corporation Ltd, - India
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- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- VISA Power Limited - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- The University of Queensland
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
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