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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
INDONESIA MINING RULES MAY DETER INVESTORS-OFFICIALS - REUTERS
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
UNDERGROUND MINING IN FOREST AREAS NOT SO SIMPLE - THE JAKARTA POST
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Monday, 27 April 09
COAL PRICES ABOVE FUNDAMENTALS - STUFF.CO.NZ
Coal prices have defied the gravity of fundamental factors, supported by stockpiling prompted by cheaper prompt prices rather than a reflextion of a ...
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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- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
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- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Cement Manufacturers Association - India
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