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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, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
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- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
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