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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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Monday, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
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- McConnell Dowell - Australia
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- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
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- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
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- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
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- Africa Commodities Group - South Africa
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- The State Trading Corporation of India Ltd
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- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
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- Price Waterhouse Coopers - Russia
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- Anglo American - United Kingdom
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
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- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
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- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
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- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
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- IEA Clean Coal Centre - UK
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- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
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- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Parliament of New Zealand
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- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
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- PTC India Limited - India
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- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
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- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
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- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
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- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
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- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
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- Economic Council, Georgia
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- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
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- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
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- Electricity Generating Authority of Thailand
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- AsiaOL BioFuels Corp., Philippines
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