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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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Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
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- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
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