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