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