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