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