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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 22 January 10
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Friday, 22 January 10
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Friday, 22 January 10
JSW ENERGY TO INVEST RS 4,500 CRORE IN COAL MINES ABROAD
The Sajjan Jindal-promoted JSW Energy is planning an investment of Rs 4,500 crore (US$ 978,260,869) to acquire coal mines abroad and another of Rs 1 ...
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- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Minerals Council of Australia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
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