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