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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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Tuesday, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
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Saturday, 20 February 10
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Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
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Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
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The BSI still decline as holidays around the world have reduced trading.
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- GMR Energy Limited - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
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- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
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- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
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- Sindya Power Generating Company Private Ltd
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- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- The Treasury - Australian Government
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- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
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