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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, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
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- ASAPP Information Group - India
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- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
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- Chamber of Mines of South Africa
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- Anglo American - United Kingdom
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- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
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- Central Java Power - Indonesia
- Malabar Cements Ltd - India
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- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
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- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
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- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
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- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
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- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Australian Coal Association
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Minerals Council of Australia
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