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