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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, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
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- Marubeni Corporation - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Australian Coal Association
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
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