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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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Tuesday, 25 August 09
INDIAN FIRM TO INVEST $44 MN IN INDONESIA
Economic Times - India Times reported that, BEML Limited, India-based second largest heavy equipment producer in Asia, will invest $44 million in In ...
Tuesday, 25 August 09
BHARAT LOOKS TO BULLDOZE RIVALS WITH LOWER PRICES
The Jakarta Globe reported that, The country’s two established heavy equipment suppliers now have a competitor in the form of Indian firm Bhar ...
Tuesday, 25 August 09
PIKE RIVER DELAYS COAL EXPORTS FROM NEW ZEALAND MINE
South African mining Weekly reported that, The first 60,000-t export shipment from ASX-listed Pike River Coal’s new mine has been delayed unti ...
Monday, 24 August 09
INDONESIAN GOVT ASKED TO CONTROL COAL TRADERS, BROKERS
The Jakarta Post, the leading English news paper in Indoneisa reported that, Businesses are urging the government to bring all coal traders and brok ...
Monday, 24 August 09
10,000 MW TO BE GENERATED THROUGH THAR COAL RESERVES BY 2020
Four projects of 2450 MW approved; govt to invest Rs80bn in five years on infrastructure
The News Pakistan reported that, The Thar Coal a ...
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- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
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- GN Power Mariveles Coal Plant, Philippines
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- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
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- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
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- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
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- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- VISA Power Limited - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
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