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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, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
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- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
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