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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, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
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- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- MS Steel International - UAE
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
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