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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, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved ...
Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
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- CNBM International Corporation - China
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
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