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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
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
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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- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Parliament of New Zealand
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
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