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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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Friday, 29 May 09
INDONESIA PLANS "CLEARING HOUSE" FOR COAL - ALIBABA
Alibaba reported that, Indonesia, the world's biggest thermal coal exporter, plans to set up an agency similar to a clearing house to trade stocks ...
Friday, 29 May 09
INDIKA EYES MORE ACQUISITIONS - THE JAKARTA POST
Having nearly completed the acquisition of engineering and mining company PT Petrosea, energy company PT Indika Energy is preparing for more acquisi ...
Friday, 29 May 09
PTBA PAYS DIVIDENDS OF RP 371.5 A SHARE - THE JAKARTA POST
The annual shareholders' meeting of state-controlled coal producer PT Tambang Batubara Bukit Asam (PTBA) approved on Thursday the allocation of 50 ...
Thursday, 28 May 09
INDIANS CHOOSE SOUTH AFRICA COAL OVER INDONESIAN - MINEWEB (REUTERS)
South African cargoes are about $4 a tonne cheaper than Indonesian coal, as a result India now prefers South Africa .
Indian imports of South Afr ...
Wednesday, 27 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE 3.6% - BLOOMBERG
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 3.6 percent last week while the num ...
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- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
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