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