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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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Saturday, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
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- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- White Energy Company Limited
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
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