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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. ...
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NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
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Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
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Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- The University of Queensland
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
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- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Australian Coal Association
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
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