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