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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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Wednesday, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year ...
Tuesday, 02 February 10
THAI BANPU SAYS HIGHER COSTS TO HIT COAL PROFITS
Thailand's top coal miner, expects profits from its coal business in 2010 to be lower than last year due to higher costs, but its chief executive i ...
Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The bo ...
Sunday, 31 January 10
AUSTRALIA NEWCASTLE THERMAL COAL FALLS 0.7 PERCENT TO $ 98.53
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 0.7 percent, falling for the first time in four weeks. ...
Sunday, 31 January 10
NTPC TO IMPORT COAL
NTPC Ltd plans to import coal directly, starting next fiscal.
“We plan to import 15-16 million tonnes of coal directly from next year,&rdqu ...
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- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- The University of Queensland
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
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