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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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Saturday, 10 February 18
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INDONESIAN COAL PRICE REFERENCE RISES TO HIT THIRTEEN-MONTH HIGH OF $100.69 A TON
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- The University of Queensland
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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