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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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Saturday, 31 October 09
FLSMIDTH WINS MAJOR INDIAN COAL HANDLING PROJECT
Top global supplier of minerals processing and materials handling equipment, FL smidth, has won another important coal handling contract in India
...
Saturday, 31 October 09
INDIA OPENING POWER SECTOR TO PRIVATE INVESTMENT, COAL STILL THE FUEL OF CHOICE
Energy Tribune reported that, With coal-fired power plants as the primary source, India’s electricity generation sector space has been dominat ...
Friday, 30 October 09
MINERS TOLD TO SPEND ON LOCAL SERVICE FIRMS
The energy and mineral resources ministry has issued a ministerial regulation ordering mining firms to prioritize hiring domestic service companies ...
Friday, 30 October 09
TATA POWER MAY BUY COAL FROM RIVERSDALE'S MOZAMBIQUE MINES
Bloomberg reported that, Tata Power Ltd., India’s biggest electricity generator outside state control, may buy coal from a mine in Mozambique ...
Thursday, 29 October 09
MMTC AWARDED 12.5 MILLION TONS TO THREE INDIAN TRADERS
COALspot.com (India): State-run trading firm MMTC awarded tenders for the import of 12.5 million tonnes of coal for NTPC to three Indian coal trader ...
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- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
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- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
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- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
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- Karbindo Abesyapradhi - Indoneisa
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- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
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- Edison Trading Spa - Italy
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- The University of Queensland
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- Heidelberg Cement - Germany
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- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
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- Energy Link Ltd, New Zealand
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- Pipit Mutiara Jaya. PT, Indonesia
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- Coal and Oil Company - UAE
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- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
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- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
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- Cement Manufacturers Association - India
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- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
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- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Wilmar Investment Holdings
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- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
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- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
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- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
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- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
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- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
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- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
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- Planning Commission, India
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- Australian Coal Association
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