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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, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million
* Expect to complete the deal in the fourth quarter of 2009
* Delta Dunia has appointed Barclays Ca ...
Thursday, 20 August 09
MUNDRA PORT BAGS MORMUGAO PORT COAL TERMINAL DEVELOPMENT CONCESSIONS
NDTV reported that, Mundra Port and Special Economic Zone (Mundra Port) the largest private port in India has won the bid for the development of coa ...
Thursday, 20 August 09
INDONESIA'S BUKIT ASAM SET FOR MINE ACQUISITIONS
* Allocates $150 million for coal mine acquisitions
* Expects one deal to be completed by the end of 2009
Reuters world's largest international ...
Thursday, 20 August 09
INDONESIAN COAL EXPORT LESSENS IN FIRST SEMESTER
Domestic coal use has grown by five million tons.
Viva News reported that, Domestic coal export up until the first half of 2009 decreased by four ...
Wednesday, 19 August 09
STEAM COAL PRICES ARE SINKING - THE GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com (German): Oversupply in the World Market. In 2Q 2009 the steam coal prices sank massive in comparison to the previous years quart ...
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- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- PTC India Limited - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
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