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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
Thursday, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
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- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
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