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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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Tuesday, 25 August 09
INDIAN FIRM TO INVEST $44 MN IN INDONESIA
Economic Times - India Times reported that, BEML Limited, India-based second largest heavy equipment producer in Asia, will invest $44 million in In ...
Tuesday, 25 August 09
BHARAT LOOKS TO BULLDOZE RIVALS WITH LOWER PRICES
The Jakarta Globe reported that, The country’s two established heavy equipment suppliers now have a competitor in the form of Indian firm Bhar ...
Tuesday, 25 August 09
PIKE RIVER DELAYS COAL EXPORTS FROM NEW ZEALAND MINE
South African mining Weekly reported that, The first 60,000-t export shipment from ASX-listed Pike River Coal’s new mine has been delayed unti ...
Monday, 24 August 09
INDONESIAN GOVT ASKED TO CONTROL COAL TRADERS, BROKERS
The Jakarta Post, the leading English news paper in Indoneisa reported that, Businesses are urging the government to bring all coal traders and brok ...
Monday, 24 August 09
10,000 MW TO BE GENERATED THROUGH THAR COAL RESERVES BY 2020
Four projects of 2450 MW approved; govt to invest Rs80bn in five years on infrastructure
The News Pakistan reported that, The Thar Coal a ...
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- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- The University of Queensland
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
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