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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, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
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- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Planning Commission, India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- CNBM International Corporation - China
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
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