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