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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
Tuesday, 25 August 09
COAL OUTPUT TO RISE IN H2 BUT EXPORTS TO GO FLAT
The leading english news paper in Indonesia reported that, It is estimated coal production will rise by 5.7 percent in the second semester from a ye ...
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- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
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