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