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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, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
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