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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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Wednesday, 14 October 09
SA'S COAL OUTPUT LIKELY TO RISE BY 2011, BOOSTED BY WATERBERG MINES
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Tuesday, 13 October 09
INDONESIA'S BAYAN SEES 2010 COAL OUTPUT UP 42 PCT
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Tuesday, 13 October 09
STRAITS ASIA UPBEAT ON MEETING 2009 COAL OUTPUT
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Tuesday, 13 October 09
THERMAL COAL DEMAND IN CHINA DRIVES PRICE INCREASES
Metal Miner reported that, Thermal coal prices have been falling this year; contrary to many other commodities, both metals and energy that hit bott ...
Tuesday, 13 October 09
JSW ENERGY SCOUTING FOR PARTNERS, ACQUISITIONS
Business-Standard reported that, JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business ...
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- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
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