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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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Saturday, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
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- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Australian Coal Association
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
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