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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- Commonwealth Bank - Australia
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- Wood Mackenzie - Singapore
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- Directorate Of Revenue Intelligence - India
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- New Zealand Coal & Carbon
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- Holcim Trading Pte Ltd - Singapore
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- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
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- Kumho Petrochemical, South Korea
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- Alfred C Toepfer International GmbH - Germany
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- White Energy Company Limited
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- Minerals Council of Australia
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- Coal and Oil Company - UAE
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- Tamil Nadu electricity Board
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- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
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- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
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- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
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- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
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- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Indian Oil Corporation Limited
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- Tata Chemicals Ltd - India
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- MS Steel International - UAE
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- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
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- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
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- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- McConnell Dowell - Australia
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- Eastern Energy - Thailand
- Bangladesh Power Developement Board
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- Manunggal Multi Energi - Indonesia
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- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
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