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