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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, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
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- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- The University of Queensland
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Central Java Power - Indonesia
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