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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
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
Tuesday, 06 October 09
COAL INDIA AIMS TO BUY MINE ABROAD BY MARCH
*Coal India to issue its first coal import tender by Nov
*ArcelorMittal, 9 others in race to develop abandoned mines
*52 firms keen to partner coa ...
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- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Aditya Birla Group - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Indonesian Coal Mining Association
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