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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, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Planning Commission, India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
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