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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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Wednesday, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
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- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- The University of Queensland
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
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