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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, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
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- Cement Manufacturers Association - India
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- Parliament of New Zealand
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- Marubeni Corporation - India
- MS Steel International - UAE
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- Romanian Commodities Exchange
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- Pendopo Energi Batubara - Indonesia
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- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
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- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
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- Gujarat Electricity Regulatory Commission - India
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- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
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- TNB Fuel Sdn Bhd - Malaysia
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- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
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- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
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- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
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- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
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- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
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- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Sical Logistics Limited - India
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- GMR Energy Limited - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
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- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
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- Planning Commission, India
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- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
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- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- VISA Power Limited - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
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- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
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