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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, 22 January 10
ENERGY ADVISORY COUNCIL MULLS - COAL EXPORT BAN
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Friday, 22 January 10
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India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy&nb ...
Friday, 22 January 10
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Friday, 22 January 10
SHENHUA ENERGY 09 YIELDED 210MN TONS COMMODITY COAL
China Shenhua Energy Co., Ltd. yielded 210 million tons of commodity coal in 2009, hiking 13.2% year on year, the Chinese energy titan announced tod ...
Friday, 22 January 10
JSW ENERGY TO INVEST RS 4,500 CRORE IN COAL MINES ABROAD
The Sajjan Jindal-promoted JSW Energy is planning an investment of Rs 4,500 crore (US$ 978,260,869) to acquire coal mines abroad and another of Rs 1 ...
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- Deloitte Consulting - India
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- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
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- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
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- PowerSource Philippines DevCo
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- Bahari Cakrawala Sebuku - Indonesia
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- Altura Mining Limited, Indonesia
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- Interocean Group of Companies - India
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- Xindia Steels Limited - India
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- Anglo American - United Kingdom
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- Power Finance Corporation Ltd., India
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- Africa Commodities Group - South Africa
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- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
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- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
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- Merrill Lynch Commodities Europe
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- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
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- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
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- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Parliament of New Zealand
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- Mjunction Services Limited - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
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- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Australian Coal Association
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- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
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- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Planning Commission, India
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- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
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- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- The State Trading Corporation of India Ltd
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