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