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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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Saturday, 04 July 09
S. AFRICA'S RICHARDS BAY TO CAP NEW COAL VOLUMES, MININGMX SAYS
South Africa’s Richards Bay Coal Terminal is proposing restrictions on the quotas it awards to coal exporters from the so-called Phase 5 expansi ...
Saturday, 04 July 09
DALRYMPLE BAY COAL TERMINAL EXPANSION COMPLETE
BABCOCK & Brown Infrastructure has completed expansion of the Dalrymple Bay Coal Terminal (DBCT) near Mackay, Queensland.
The terminal is now ...
Friday, 03 July 09
CHINA SHENHUA TO DOUBLE COAL CAPACITY BY 2014-PAPER
China Shenhua Energy Co Ltd plans to double its annual coal production capacity by 2014 from this year's level, the China Securities Journal report ...
Friday, 03 July 09
UKRAINE CUTS COAL PRODUCTION 9.3 PERCENT IN H1
Ukraine reduced coal production approximately 9.3%, or by 3.673 million tonnes, to 35.879 million tonnes in the first half of 2009 compared to the s ...
Thursday, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
* Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand ma ...
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- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Planning Commission, India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
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