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