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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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Thursday, 16 July 09
JAPAN'S J - POWER STARTS OPS AT NEW 600 MW COAL UNIT
Reuters, a worlds leading news agency reported that, Electric Power Development Co (J-Power) said on Thursday it started commercial operations at it ...
Thursday, 16 July 09
DELIVERY OF COAL MINE EXPLORATION THROUGH NEWCASTLE PORT ROSE 11 PERCENT
July 16th, 2009 Newcastle is a port in Australia that provides services in the delivery of coal from Australia to other countries. Newcastle port ha ...
Thursday, 16 July 09
CIL KEEN ON JOINT VENTURES
* Targets to raise production by 10 m tonnes by 2012
* Plans to tap reserves of abandoned mines
The Hindu, an Indian news paper reported that, t ...
Wednesday, 15 July 09
COAL INDIA INVITES EOI FOR COAL MINING IN FOREIGN COUNTRIES
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Wednesday, 15 July 09
BANGLADESH TO IMPORT COAL FROM INDIA FOR 1 MORE YR
Bangladesh has decided to import coal from neighbour India for another year to save foreign exchange and time, a commerce ministry official said on ...
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- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
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