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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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Monday, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
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Monday, 10 August 09
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Monday, 10 August 09
NTPC LIKELY TO SET UP POWER PLANTS IN NIGERIA AND SRILANKA
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Monday, 10 August 09
VINACOMIN TO SELL COAL AT MARKET PRICES TO DOMESTIC USERS
VNBusinessNews.com - Reuters reported that Vietnamese government has agreed to let coal monopoly Vinacomin sell coal at market oriented prices to do ...
Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
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- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
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