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