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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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Sunday, 08 March 09
AUSTRALIA'S FELIX STUDYING COAL ACQUISITIONS IN INDIA, INDONESIA
Bloomberg reported that, Felix Resources Ltd., an Australian supplier of coal to Korea and Japan, is studying acquisitions of energy coal assets in ...
Saturday, 07 March 09
THERMAL COAL PRICES MAY DROP, STANDARD CHARTERED SAYS
Bloomberg reported that, Coal prices may decline as a slump in demand for the fuel outpaces cuts in production, Standard Chartered Plc said.
Exp ...
Friday, 06 March 09
STRAITS ASIA EYES 3RD MINE
Straitstimes reported that, Mining company Straits Asia Resources is on an expansion trail to more than double its output by 2012.
Amid the econo ...
Friday, 06 March 09
INDONESIA MAY MISS 2009 COAL OUTPUT TARGET-OFFICIAL
Indonesia, the world's top thermal coal exporter, may fail to achieve its coal production target this year as the global economic crisis dents dema ...
Friday, 06 March 09
POWER FIRMS HEAD TO INDONESIA FOR COAL
The Hindu Businessline reported that, The enactment of a new, more liberal, mining legislation in Indonesia is drawing coal-starved Indian power uti ...
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- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
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- GMR Energy Limited - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
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- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
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- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
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- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
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- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
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- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
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- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
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- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
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- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
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- Romanian Commodities Exchange
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- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
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- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
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- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
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