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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, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
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- Madhucon Powers Ltd - India
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- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
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- Samtan Co., Ltd - South Korea
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- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
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- SMG Consultants - Indonesia
- White Energy Company Limited
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- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
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- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
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- Independent Power Producers Association of India
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- Anglo American - United Kingdom
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- The Treasury - Australian Government
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- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
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- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
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- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
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- Indian Energy Exchange, India
- VISA Power Limited - India
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- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
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- Therma Luzon, Inc, Philippines
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- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
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- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
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- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
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- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
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