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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 02 June 09
GOVT FINALIZING DMO MECHANISM, REFERENCE PRICE FOR COAL - THE JAKARTA POST
Indonesia, the world's largest thermal coal exporter, is finalizing regulations on a reference price on coal, on a domestic market obligation (DMO) ...
Tuesday, 02 June 09
CHINA OVERSEAS COAL DEMAND TO STAY BUOYANT-MINERS (REUTERS)
China's demand for overseas coal is expected to stay strong in the second half as long as prices of imported coal maintain a discount to domestic p ...
Tuesday, 02 June 09
INDONESIA'S COAL EXPORTS REACH US$ 3.44 BILLION SO FAR THIS YEAR - TRADINGCHARTS
Indonesia`s coal exports in the January-April 2009 period increased by 21.31 per cent to US$3.44 billion compared to US$2.83 billion in the same per ...
Tuesday, 02 June 09
INDONESIA'S BUKIT ASAM AGREES HIGHER COAL PRICES - REUTERS
Indonesian state coal miner PT Bukit Asam Tbk said it has agreed coal prices for two power plants owned by state electricity firm PT Perusahaan List ...
Tuesday, 02 June 09
ADARO MAY RAISE COAL SALES TO CHINA, INDIA PLANTS - THE JAKARTA GLOBE
PT Adaro Energy, the country’s second-largest coal producer, may increase sales of power-plant coal to China and India on signs of a global ec ...
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- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
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