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