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