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