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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
Tuesday, 25 August 09
COAL OUTPUT TO RISE IN H2 BUT EXPORTS TO GO FLAT
The leading english news paper in Indonesia reported that, It is estimated coal production will rise by 5.7 percent in the second semester from a ye ...
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- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- White Energy Company Limited
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- VISA Power Limited - India
- Planning Commission, India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
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