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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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Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
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- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- PTC India Limited - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
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