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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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Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
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- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
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