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