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