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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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Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
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- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- The University of Queensland
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
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