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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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Saturday, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC
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Saturday, 13 February 10
RULES MAY FREE $10B OF MINING PROJECTS IN INDONESIA
The government announced on Friday that it had issued two implementing regulations for the new Mining Law that will clear the way for the developmen ...
Saturday, 13 February 10
INDONESIA OFFERS TAX INCENTIVES FOR RENEWABLE ENERGY
Indonesia is offering tax incentives to develop renewable energy projects, including geothermal energy, to cut dependency on fossil fuels, a decree ...
Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T
Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to ...
Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
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- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Makarim & Taira - Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
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