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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, 07 January 10
INDONESIAS COAL OUTPUT MAY RISE TO 309 MILLION TONS IN 2014 - BLOOMBERG
Indonesia’s coal production may rise to 309 million tons by 2014 from an estimated 250 million tons this year, Bambang Setiawan, director-gene ...
Wednesday, 06 January 10
RICHARDS BAY SAYS 46% OF COAL EXPORTS WENT TO EUROPE
Richards Bay Coal Terminal, through which almost all of South Africa’s coal exports are routed, said 46 percent of the coal it exported in 200 ...
Wednesday, 06 January 10
CHINA-AUSTRALIA INVESTMENT TIES SEEN IMPROVING IN 2010
Australia and China showed a united front in a bid to improve investment ties as they signed a $3-billion coal deal on Wednesday, following a rocky ...
Wednesday, 06 January 10
INVESTMENT IN MINING TO TOP $2.5B IN 2010
The government plans to invest US$2.5 billion in the mining sector, an official said Tuesday.
Bambang Setiawan, the director general of mineral r ...
Wednesday, 06 January 10
SAS 2009 COAL EXPORTS THROUGH RBCT FLAT AT 61MT
Exports through South Africa’s Richards Bay Coal Terminal (RBCT) remained flat in 2009, as the terminal faced “critical business challen ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
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