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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 22 January 10
ENERGY ADVISORY COUNCIL MULLS - COAL EXPORT BAN
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Friday, 22 January 10
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India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy&nb ...
Friday, 22 January 10
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Friday, 22 January 10
SHENHUA ENERGY 09 YIELDED 210MN TONS COMMODITY COAL
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Friday, 22 January 10
JSW ENERGY TO INVEST RS 4,500 CRORE IN COAL MINES ABROAD
The Sajjan Jindal-promoted JSW Energy is planning an investment of Rs 4,500 crore (US$ 978,260,869) to acquire coal mines abroad and another of Rs 1 ...
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- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
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