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