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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, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
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- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- PTC India Limited - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Parliament of New Zealand
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Deloitte Consulting - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
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