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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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Tuesday, 28 July 09
BUKIT ASAM ENJOYS STRONG FIRST HALF
The Jakarta Post reported that, state coal miner PT Tambang Batubara Bukit Asam (PTBA) enjoyed a strong first half performance with six-month net pr ...
Tuesday, 28 July 09
NEWCASTLE LOADED 1.943 MILLION TONS OF COAL IN THE WEEK ENDED 27TH JULY 2009
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Monday, 27 July 09
INDIA PAYING HIGHEST PRICE FOR S.AFRICA COAL - PRODUCERS
* Spread between South African and Pacific origin coal very wide
* Lack of European buying makes India indicator of value
Reuters reported that, ...
Monday, 27 July 09
TAIWAN'S FORMOSA EYES S.AFRICAN COAL FOR Q4: TRADE
Reuters reported that, Taiwan's Formosa Plastics Group is looking to buy two South African thermal coal cargoes for delivery in the fourth-quarter, ...
Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
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- SMG Consultants - Indonesia
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- The University of Queensland
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- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
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- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
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- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
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- White Energy Company Limited
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- Indika Energy - Indonesia
- Mjunction Services Limited - India
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- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
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- Sojitz Corporation - Japan
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- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
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- Global Coal Blending Company Limited - Australia
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- Economic Council, Georgia
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- OPG Power Generation Pvt Ltd - India
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- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Latin American Coal - Colombia
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- Altura Mining Limited, Indonesia
- Minerals Council of Australia
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- Mercuria Energy - Indonesia
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- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
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- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
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- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
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- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Indian Energy Exchange, India
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- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
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- Miang Besar Coal Terminal - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
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- Bhatia International Limited - India
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- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
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- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
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- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
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- Larsen & Toubro Limited - India
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- Meralco Power Generation, Philippines
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