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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, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Posco Energy - South Korea
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
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