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