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