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