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