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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, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
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- Minerals Council of Australia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- The University of Queensland
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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