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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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Saturday, 10 February 18
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INDONESIAN COAL PRICE REFERENCE RISES TO HIT THIRTEEN-MONTH HIGH OF $100.69 A TON
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- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Australian Coal Association
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Indian Energy Exchange, India
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