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