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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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Thursday, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
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Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
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- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Planning Commission, India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
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