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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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Saturday, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC
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Saturday, 13 February 10
RULES MAY FREE $10B OF MINING PROJECTS IN INDONESIA
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Saturday, 13 February 10
INDONESIA OFFERS TAX INCENTIVES FOR RENEWABLE ENERGY
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Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T
Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to ...
Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
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- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
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