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