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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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Wednesday, 17 February 10
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VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
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Tuesday, 16 February 10
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The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- The University of Queensland
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Wilmar Investment Holdings
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