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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, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
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- SMG Consultants - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Australian Coal Association
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
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