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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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Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
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