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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
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- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Planning Commission, India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- White Energy Company Limited
- CNBM International Corporation - China
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
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