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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, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
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- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- VISA Power Limited - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Planning Commission, India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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