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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, 17 October 09
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Friday, 16 October 09
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To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
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Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
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- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
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