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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, 04 December 09
JSW ENERGY TO BUY OUT PARENT FIRM'S COAL BLOCK
JSW Energy plans to buy the stake held by JSW Steel in a thermal coal block in Mozambique in an attempt to become an integrated energy company with ...
Thursday, 03 December 09
JAPAN 2010 COAL IMPORTS SEEN FLAT, INDIA'S ROBUST - INDUSTRY
* Japan's demand seen steady in 2010 at 110 mln tonnes
* India's demand seen as robust, at 70 mln tonnes
Reuters reported that, Thermal coal i ...
Thursday, 03 December 09
INDONESIA MAY ALLOW COAL SALES BELOW GOVT PRICE
Reuters reported that, Indonesia is considering giving producers some flexibility to sell coal below the government's monthly benchmark price to co ...
Thursday, 03 December 09
INDONESIA SEEKS TO INCREASE COAL SHIPMENTS TO INDIA, CHINA
Bloomberg reproted that, Indonesia, Asia’s biggest coal exporter, seeks to increase shipments to India and China as the economies improve and ...
Thursday, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010
Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November ...
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- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
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- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
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- Australian Coal Association
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- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
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- Minerals Council of Australia
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- Parliament of New Zealand
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- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
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- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
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- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Planning Commission, India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
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