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