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