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