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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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Sunday, 08 March 09
AUSTRALIA'S FELIX STUDYING COAL ACQUISITIONS IN INDIA, INDONESIA
Bloomberg reported that, Felix Resources Ltd., an Australian supplier of coal to Korea and Japan, is studying acquisitions of energy coal assets in ...
Saturday, 07 March 09
THERMAL COAL PRICES MAY DROP, STANDARD CHARTERED SAYS
Bloomberg reported that, Coal prices may decline as a slump in demand for the fuel outpaces cuts in production, Standard Chartered Plc said.
Exp ...
Friday, 06 March 09
STRAITS ASIA EYES 3RD MINE
Straitstimes reported that, Mining company Straits Asia Resources is on an expansion trail to more than double its output by 2012.
Amid the econo ...
Friday, 06 March 09
INDONESIA MAY MISS 2009 COAL OUTPUT TARGET-OFFICIAL
Indonesia, the world's top thermal coal exporter, may fail to achieve its coal production target this year as the global economic crisis dents dema ...
Friday, 06 March 09
POWER FIRMS HEAD TO INDONESIA FOR COAL
The Hindu Businessline reported that, The enactment of a new, more liberal, mining legislation in Indonesia is drawing coal-starved Indian power uti ...
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- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
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