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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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Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Australian Coal Association
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
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