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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, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
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- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- The University of Queensland
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
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