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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, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
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- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- The University of Queensland
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
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