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