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