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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
Thursday, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
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- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Planning Commission, India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
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