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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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Tuesday, 13 October 09
INDIA INTERESTED IN AMERICAN COAL
UPI reported that, Coal India Ltd. in its global expansion efforts is now interested in coal properties in the United States.
The Business Standard ...
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Monday, 12 October 09
INDONESIAN COAL MINER SAYS PLANS IPO IN 2010
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Monday, 12 October 09
BISICHI MINING FINALIZES COAL SUPPLY CONTRACT FOR 2010-2012
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Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
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- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
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- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
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- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
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- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
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- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
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- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
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- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
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- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
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- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
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- The University of Queensland
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- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- The Treasury - Australian Government
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- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- IEA Clean Coal Centre - UK
- Minerals Council of Australia
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- CIMB Investment Bank - Malaysia
- Planning Commission, India
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- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
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