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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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Tuesday, 11 August 09
ZAMBIAN COAL BUYERS CONTINUE IMPORTING COAL FROM ZIMBABWE
Lusaka Times reported that, Coal mining companies have bemoaned the lack of market for their produce as prospective buyers continue importing the co ...
Monday, 10 August 09
NOMINAL HIKE IN COAL PRICES SOON - MEDIA
The hindu business reported that, a marginal hike in coal prices is in the offing. "I will be soon approaching the Prime Minister on the matter ...
Monday, 10 August 09
MANGALAM CEMENT PLACES ORDER FOR CAPTIVE POWER PLANT
Steel Guru reported that, Mangalam Cement Ltd has announced that the company on August 6th 2009 finalized order for Captive Thermal Power Plant of 1 ...
Monday, 10 August 09
VIET NAM COAL EXPORTS HIT 13.5 MILLION TONNES
VietNamNet Bridge reported that, Viet Nam exported more than 13.5 million tonnes of coal in the first seven months of this year, equal to the same p ...
Monday, 10 August 09
S.KOREA KOSPO ISSUES SPOT, TERM COAL TENDERS
Korea Southern Power Co Ltd (KOSPO) is seeking 1.5 million tonnes of steam coal per year for delivery from October 2009 through September 2012 via a ...
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- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
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- Salva Resources Pvt Ltd - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
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- Agrawal Coal Company - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Planning Commission, India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
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