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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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Friday, 17 July 09
THE NEW LAW OF MINERAL AND COAL MINING NO 4/2009 CREATE CONDUCIVE CLIMATE OF INVESTMENT IN INDONESIA
COALspot.com (Indonesia): The new Law of Mineral and Coal Mining No 4/2009, which replaces the old mining law No. 11/1967 has been signed by the Pre ...
Friday, 17 July 09
INDIA COAL TRADERS MUST OWN POWER, MINES - C&O BOSS
· Coal traders need to diversify to grow
· Coastal Energen to build first merchant power plant
· Tamil Nadu to see st ...
Friday, 17 July 09
CHINA SHENHUA ENERGY'S COAL OUTPUT SWELLS 17.6% IN H1
China Knowledge reported that, China Shenhua Energy Co Ltd, which is engaged in the coal mining, power generation and transportation businesses, on ...
Thursday, 16 July 09
CHINA ISSUES SECOND BATCH OF '09 EXPORT QUOTAS
China has issued 25 million tonnes of coal export quotas for the second batch this year, the National Development and Reform Commission said Wednesd ...
Thursday, 16 July 09
NTPC TO ENGAGE BANKERS TO ACQUIRE OVERSEAS COAL MINES
The Hindu reported that, State-run power generation company NTPC said it would appoint merchant bankers next month for acquiring coal mines identifi ...
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- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
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- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- The University of Queensland
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Wilmar Investment Holdings
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