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