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