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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, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
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- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
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