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