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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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Wednesday, 14 October 09
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Tuesday, 13 October 09
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Tuesday, 13 October 09
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Business-Standard reported that, JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business ...
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- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- The University of Queensland
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
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