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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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Saturday, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved ...
Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
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- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Planning Commission, India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Australian Coal Association
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
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