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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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Wednesday, 17 February 10
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VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
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Tuesday, 16 February 10
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The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Australian Coal Association
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
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