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