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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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Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
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Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
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Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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