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