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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, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
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- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Australian Coal Association
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
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