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