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