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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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- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- PTC India Limited - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- The University of Queensland
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Parliament of New Zealand
- Indogreen Group - Indonesia
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