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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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- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- The University of Queensland
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
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