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