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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, 27 April 09
JSW ENERGY SET TO SNAP UP AFRICAN COAL MINE FOR $70 MN - ECONOMIC TIMES
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million ...
Monday, 27 April 09
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Indonesia's rules on foreign divestment of mining projects must be revised to address issues such as finding buyers if Southeast Asia's biggest ec ...
Monday, 27 April 09
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Monday, 27 April 09
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Sunday, 26 April 09
MITRA HOPES TO SECURE DEALS WITH TWO COAL FIRMS BY JUNE - THE JAKARTA POST
An integrated oil and gas services company, publicly listed PT Mitra Rajasa, is expecting to seal acquisition deals with two coal companies in June, ...
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- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
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- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
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- Vedanta Resources Plc - India
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- Straits Asia Resources Limited - Singapore
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- Petron Corporation, Philippines
- Wilmar Investment Holdings
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- White Energy Company Limited
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- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
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- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
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- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
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