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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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Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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- Kepco SPC Power Corporation, Philippines
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- Eastern Energy - Thailand
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- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
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- Wilmar Investment Holdings
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- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
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- Deloitte Consulting - India
- Medco Energi Mining Internasional
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- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
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- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
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- Wood Mackenzie - Singapore
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- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- CNBM International Corporation - China
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- The University of Queensland
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
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