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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, 16 July 09
JAPAN'S J - POWER STARTS OPS AT NEW 600 MW COAL UNIT
Reuters, a worlds leading news agency reported that, Electric Power Development Co (J-Power) said on Thursday it started commercial operations at it ...
Thursday, 16 July 09
DELIVERY OF COAL MINE EXPLORATION THROUGH NEWCASTLE PORT ROSE 11 PERCENT
July 16th, 2009 Newcastle is a port in Australia that provides services in the delivery of coal from Australia to other countries. Newcastle port ha ...
Thursday, 16 July 09
CIL KEEN ON JOINT VENTURES
* Targets to raise production by 10 m tonnes by 2012
* Plans to tap reserves of abandoned mines
The Hindu, an Indian news paper reported that, t ...
Wednesday, 15 July 09
COAL INDIA INVITES EOI FOR COAL MINING IN FOREIGN COUNTRIES
Economict Tmes reported that, Coal India, a leading PSU with a status of Navratna, today, invited Expression of Interest for selection of strategic ...
Wednesday, 15 July 09
BANGLADESH TO IMPORT COAL FROM INDIA FOR 1 MORE YR
Bangladesh has decided to import coal from neighbour India for another year to save foreign exchange and time, a commerce ministry official said on ...
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- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- The University of Queensland
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
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