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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, 04 December 09
JSW ENERGY TO BUY OUT PARENT FIRM'S COAL BLOCK
JSW Energy plans to buy the stake held by JSW Steel in a thermal coal block in Mozambique in an attempt to become an integrated energy company with ...
Thursday, 03 December 09
JAPAN 2010 COAL IMPORTS SEEN FLAT, INDIA'S ROBUST - INDUSTRY
* Japan's demand seen steady in 2010 at 110 mln tonnes
* India's demand seen as robust, at 70 mln tonnes
Reuters reported that, Thermal coal i ...
Thursday, 03 December 09
INDONESIA MAY ALLOW COAL SALES BELOW GOVT PRICE
Reuters reported that, Indonesia is considering giving producers some flexibility to sell coal below the government's monthly benchmark price to co ...
Thursday, 03 December 09
INDONESIA SEEKS TO INCREASE COAL SHIPMENTS TO INDIA, CHINA
Bloomberg reproted that, Indonesia, Asia’s biggest coal exporter, seeks to increase shipments to India and China as the economies improve and ...
Thursday, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010
Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November ...
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- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- The University of Queensland
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