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