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