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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, 16 December 09
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finish ...
Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...
Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...
Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...
Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
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- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
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