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