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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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Thursday, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Planning Commission, India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
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