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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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Monday, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political
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Monday, 10 August 09
SAIL, TATA STEEL TO REDUCE COAL IMPORTS BY PARADIP PORT
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Monday, 10 August 09
NTPC LIKELY TO SET UP POWER PLANTS IN NIGERIA AND SRILANKA
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Monday, 10 August 09
VINACOMIN TO SELL COAL AT MARKET PRICES TO DOMESTIC USERS
VNBusinessNews.com - Reuters reported that Vietnamese government has agreed to let coal monopoly Vinacomin sell coal at market oriented prices to do ...
Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
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- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
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