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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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Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Australian Coal Association
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- VISA Power Limited - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
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