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