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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, 06 June 09
COAL PRICE HIT RECORD ON STRONG CHINA DEMAND - INVESTMENT WATCH
Investment watch reported that, “Coal price hit a new high of over $72 a tonne at Australia’s Newcastle Port, a benchmark for Asia, spur ...
Friday, 05 June 09
CEMENT INDUSTRY NEEDS POLICY ON FLY ASH
H.M. Bangur, President of Cement Manufacturers' Association, on the objectives and economic impact of the proposed national policy on utilisation o ...
Thursday, 04 June 09
PAKISTAN TO IMPORT MORE COAL FROM INDONESIA - SEATRADE
COALspot.com (Pakistan): Richards bay to Pakistan sea freight has touched US$ 20.00 for 40,000/10 pct steam size in June 2009. South African c ...
Thursday, 04 June 09
CHINA'S SHANXI PROVINCE CONSIDERS COAL FUTURES BOURSE - MINE WEB
Mine Web reported that, China hopes to establish a coal futures exchange to obtain more rights on international pricing.
China's largest coal pr ...
Thursday, 04 June 09
CHINA QINHUANGDAO COAL STOCK JUMPS BY 36.2% MOM - STEELGURU
SteelGuru reported that, Sources indicated that, coal stock at Qinhuangdao port, China's major coal port has reached 4.88 million tonnes increasing ...
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- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- London Commodity Brokers - England
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
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