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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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Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
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