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