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