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