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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
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
Tuesday, 06 October 09
COAL INDIA AIMS TO BUY MINE ABROAD BY MARCH
*Coal India to issue its first coal import tender by Nov
*ArcelorMittal, 9 others in race to develop abandoned mines
*52 firms keen to partner coa ...
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- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Ministry of Mines - Canada
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Deloitte Consulting - India
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