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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, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
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Monday, 29 November 10
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Sunday, 28 November 10
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Overall the market seems to be ...
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- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
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- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
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