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