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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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Monday, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
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- Mjunction Services Limited - India
- Commonwealth Bank - Australia
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- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
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- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
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