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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, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
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- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Planning Commission, India
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- MS Steel International - UAE
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