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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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Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
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- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
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- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
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- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
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