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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, 15 October 09
GOVT TO CAP COAL EXPORTS AT 150 MILLION TONS A YEAR
The Jakarta Post reported that, The government plans to cap coal exports at around 150 million tons a year in a bid to guarantee supply for domestic ...
Thursday, 15 October 09
AUSTRALIAN MINING COMPANIES REPORTED FINDING 1.5 BILLION COAL MINE DEPOSIT IN MOZAMBIQUE
Paguntaka reported that, Mozambique is a country that has the potential mining areas are very rich. Many mining companies who want to invest in the ...
Wednesday, 14 October 09
INDONESIA POWER FIRM SIGNS LOAN AGREEMENTS FOR OVER $1 BLN
Reuters reported that, Indonesia's state electricity firm PT Perusahaan Listrik Negara (PLN) has raised more than $1 billion from a group of banks ...
Wednesday, 14 October 09
LARSEN & TOUBRO MAY ENTER POWER GENERATION BUSINESS IN INDIA
Bloomberg reported that, Larsen & Toubro Ltd., India’s biggest engineering company, said it is considering entering the power generation b ...
Wednesday, 14 October 09
INDONESIA MULLS TO LIMIT COAL EXPORT
China View reported that, The Indonesian government planned to limit coal export of up to 150 million tons per year due to the growing coal demand i ...
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- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Planning Commission, India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Economic Council, Georgia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- GMR Energy Limited - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
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