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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, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
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- Carbofer General Trading SA - India
- The University of Queensland
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Indo Tambangraya Megah - Indonesia
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- Larsen & Toubro Limited - India
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- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
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- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
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- New Zealand Coal & Carbon
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- Economic Council, Georgia
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- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Australian Coal Association
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- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Planning Commission, India
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- ASAPP Information Group - India
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- Global Business Power Corporation, Philippines
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- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
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- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
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- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
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- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
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- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
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