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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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Monday, 27 April 09
JSW ENERGY SET TO SNAP UP AFRICAN COAL MINE FOR $70 MN - ECONOMIC TIMES
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Monday, 27 April 09
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Indonesia's rules on foreign divestment of mining projects must be revised to address issues such as finding buyers if Southeast Asia's biggest ec ...
Monday, 27 April 09
UNDERGROUND MINING IN FOREST AREAS NOT SO SIMPLE - THE JAKARTA POST
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Monday, 27 April 09
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Sunday, 26 April 09
MITRA HOPES TO SECURE DEALS WITH TWO COAL FIRMS BY JUNE - THE JAKARTA POST
An integrated oil and gas services company, publicly listed PT Mitra Rajasa, is expecting to seal acquisition deals with two coal companies in June, ...
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- Coalindo Energy - Indonesia
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- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
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- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Australian Coal Association
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
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- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
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- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
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- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
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- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
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- Electricity Authority, New Zealand
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- Ministry of Transport, Egypt
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- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Economic Council, Georgia
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- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
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- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
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- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
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- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
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- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
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- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
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- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
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- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
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- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
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- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
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- The State Trading Corporation of India Ltd
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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