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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 22 January 10
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Friday, 22 January 10
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Friday, 22 January 10
JSW ENERGY TO INVEST RS 4,500 CRORE IN COAL MINES ABROAD
The Sajjan Jindal-promoted JSW Energy is planning an investment of Rs 4,500 crore (US$ 978,260,869) to acquire coal mines abroad and another of Rs 1 ...
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- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
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