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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, 14 October 09
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INDONESIA'S BAYAN SEES 2010 COAL OUTPUT UP 42 PCT
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Tuesday, 13 October 09
STRAITS ASIA UPBEAT ON MEETING 2009 COAL OUTPUT
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Tuesday, 13 October 09
JSW ENERGY SCOUTING FOR PARTNERS, ACQUISITIONS
Business-Standard reported that, JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business ...
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- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- ASAPP Information Group - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- The University of Queensland
- Parliament of New Zealand
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Australian Coal Association
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
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