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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
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- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
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