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