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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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Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
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- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Australian Coal Association
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
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