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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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Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Parliament of New Zealand
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
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