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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, 12 June 09
THERMAL COAL PRICE REMAINS STABLE IN SHANXI - STEEL GURU
It is reported that coming into June, no major changes are seen in coal supply-demand relations in Shanxi province. Statistics of Qinhuangdao port, ...
Thursday, 11 June 09
PT NALCO PLANS TO CONSTRUCT COAL-FIRED POWER PLANT IN SOUTH SUMATRA - ENERGY BUSINESS REVIEW
PT Nalco (National Aluminium Company Limited), an Indian-based company, plans to construct a coal-fired power plant in South Sumatra. The company in ...
Thursday, 11 June 09
COAL PRODUCERS TO SEE BOOST IN DEMAND FROM ASIA PACIFIC - JAKARTA POST
The Jakarta Post reported that, at the recent 15th Coaltrans conference in Bali, we noted concerns related to rising oil prices at a faster pace tha ...
Wednesday, 10 June 09
BHP TO CUT 450 JOBS AT INDONESIAN COAL PROJECT - REUTERS
Reuters reported that, BHP Billiton Ltd will lay off all 450 workers at its Indonesian coal project after deciding not to go ahead with the pr ...
Monday, 08 June 09
PTC INDIA TO ACQUIRE COAL MINES IN AUSTRALIA, INDONESIA - PTI NEWS
PTI reported that, State-owned Power Trading Corp today said it would acquire coal properties overseas and has identified mines in Australia and Ind ...
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- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Central Java Power - Indonesia
- Minerals Council of Australia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
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