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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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Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
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- Parliament of New Zealand
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
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