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