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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Minerals Council of Australia
- VISA Power Limited - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
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