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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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Sunday, 01 November 09
THE COAL MOVEMENT TO INDIA FROM SOUTH AFRICA AND INDONESIA WOULD BE CONTINUE INCREASE - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI continued to be firm with an increase of 60 points and closed at 3,103 points.
The cape index also was firm an ...
Sunday, 01 November 09
INDONESIA ADARO Q3 NET PROFIT JUMPS ON COAL DEMAND
* Q3 net profit up 131.6 percent to 1.27 trillion rupiah
* Q3 revenue up 56.8 percent to 7.12 trillion rupiah
Reuters reported that, Indonesia' ...
Sunday, 01 November 09
PT INDIKA MAY BUY STAKES IN BHPB INDONESIA OPERATIONS
Dow Jones reported that Indonesian coal producer PT Indika Energy may buy stakes in BHP Billiton Limited's Indonesian coal operations and in local ...
Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, hel ...
Saturday, 31 October 09
PRODUCERS BENEFIT FROM COAL'S TIGHT SUPPLY AND STRONG DEMAND
The Jakarta Post reported that, The outlook for Indonesian coal producers appears promising with strong volume growth coming from both the domestic ...
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- Vizag Seaport Private Limited - India
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- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- White Energy Company Limited
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
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- Holcim Trading Pte Ltd - Singapore
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- Simpson Spence & Young - Indonesia
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- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
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- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
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- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
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- International Coal Ventures Pvt Ltd - India
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- Minerals Council of Australia
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- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
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- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
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- Power Finance Corporation Ltd., India
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- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
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- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
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- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
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