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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, 09 September 09
CHINESE INTEREST IN AUSTRALIA COAL TICKS UP AS PRICES FALL
After a lull of about two months, Australian thermal coal producers are now seeing renewed interest from Chinese buyers for spot cargoes in the four ...
Wednesday, 09 September 09
SALES FORECAST UP ON BETTER DISTRIBUTION
The Jakarta Post reported that, State coal producer PT Tambang Batubara Bukit Asam (PT BA) expects coal sales to rise by 11 percent next year as it ...
Wednesday, 09 September 09
NTPC HIRES MACQUARIE TO ADVISE INDONESIA COAL MINE PURCHASE
Bloomberg reported that, NTPC Ltd., Asia’s biggest power utility by value, has hired Macquarie Group Ltd. to evaluate a proposed coal mine pur ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL FALLS MOST IN 11 WEEKS ON EXCESSIVE PRICES
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Tuesday, 08 September 09
INDIA MAY HAVE A JOINT WORKING GROUP FOR COAL WITH INDONESIA: SRIPRAKASH JAISWAL - PRESS RELEASE
Press Information Bureau of India reported in its web site that, The Coal Ministry has, in principle, agreed to set up a Joint Working Group for coa ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- SMC Global Power, Philippines
- White Energy Company Limited
- Planning Commission, India
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- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
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- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
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- Indian Oil Corporation Limited
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- Economic Council, Georgia
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- GVK Power & Infra Limited - India
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- Indonesian Coal Mining Association
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- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
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- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
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- Deloitte Consulting - India
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- Renaissance Capital - South Africa
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- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
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- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
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- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- CNBM International Corporation - China
- VISA Power Limited - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
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- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
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- Globalindo Alam Lestari - Indonesia
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- Electricity Generating Authority of Thailand
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- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Minerals Council of Australia
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- Xindia Steels Limited - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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