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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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Friday, 17 July 09
THE NEW LAW OF MINERAL AND COAL MINING NO 4/2009 CREATE CONDUCIVE CLIMATE OF INVESTMENT IN INDONESIA
COALspot.com (Indonesia): The new Law of Mineral and Coal Mining No 4/2009, which replaces the old mining law No. 11/1967 has been signed by the Pre ...
Friday, 17 July 09
INDIA COAL TRADERS MUST OWN POWER, MINES - C&O BOSS
· Coal traders need to diversify to grow
· Coastal Energen to build first merchant power plant
· Tamil Nadu to see st ...
Friday, 17 July 09
CHINA SHENHUA ENERGY'S COAL OUTPUT SWELLS 17.6% IN H1
China Knowledge reported that, China Shenhua Energy Co Ltd, which is engaged in the coal mining, power generation and transportation businesses, on ...
Thursday, 16 July 09
CHINA ISSUES SECOND BATCH OF '09 EXPORT QUOTAS
China has issued 25 million tonnes of coal export quotas for the second batch this year, the National Development and Reform Commission said Wednesd ...
Thursday, 16 July 09
NTPC TO ENGAGE BANKERS TO ACQUIRE OVERSEAS COAL MINES
The Hindu reported that, State-run power generation company NTPC said it would appoint merchant bankers next month for acquiring coal mines identifi ...
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- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
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