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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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Thursday, 04 June 09
ASIA COAL - PRICES RISE TO 31/2 MTH HIGH ON OIL, ECONOMY - INTERACTIVE INVESTOR
Interactive Investor reported that, Prices of power-station coal from Australia, a benchmark for Asia, rose to a three-and-a-half-month high of over ...
Thursday, 04 June 09
PTT: RESTRUCTURING BUSINESS, DIVERSIFYING INTO COAL - EASYBOURSE
Thailand's largest energy conglomerate, PTT PCL (PTT.TH), will diversify into coal as part of its business restructuring, Senior Executive Vice Pre ...
Thursday, 04 June 09
ADARO SECURES THREE NEW CONTRACTS, SAYS OUTLOOK POSITIVE - THE JAKARTA POST
Publicly listed PT Adaro Energy, the country's second largest coal miner, announced Wednesday it had secured three new coal contracts from buyers f ...
Wednesday, 03 June 09
XSTRATA, KOMIPO AGREE SOME '09 COAL TONNAGE AT $63/T- REUTERS
South Korean utility Korea Midland Power Co (KOMIPO) has agreed to buy part of its 2009 term contract tonnage from Xstrata's coal unit at about $63 ...
Wednesday, 03 June 09
KOSEP SEEKS UP TO 3 MLN TONNES OF COAL - REUTERS
Korea South-East Power Co Ltd (KOSEP) has issued four tenders seeking a total of 3 million tonnes of coal for delivery between 2009 to 2011, a tende ...
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- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- White Energy Company Limited
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
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