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