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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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- Power Finance Corporation Ltd., India
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- Cement Manufacturers Association - India
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- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
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- Global Green Power PLC Corporation, Philippines
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- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
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- Bulk Trading Sa - Switzerland
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- PowerSource Philippines DevCo
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- Ministry of Transport, Egypt
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- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
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- Agrawal Coal Company - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
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- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
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- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
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- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
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- Carbofer General Trading SA - India
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- PTC India Limited - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
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