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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, 22 May 09
INDONESIA`S BUKIT ASAM TO HAVE POWER PLANT IN 2011 - ANTARA
The construction of a power plant in South Sumatra by coal mining company PT Tambang Batubara Bukit Asam will be completed in April 2011.
T ...
Friday, 22 May 09
NOBLE WINS CONTROL OF AUSTRALIA'S GLOUCESTER COAL - BLOOMBERG
Noble Group Ltd., a Hong Kong- based commodity supplier, won control of Australia’s Gloucester Coal Ltd. after last week raising its cash bid ...
Thursday, 21 May 09
FBR STARTS COVERAGE OF SHIPPING SECTOR - REUTERS
Friedman Billings Ramsey began coverage of the shipping industry, saying the sector, which is amidst a deep cyclical downturn, is poised for a recov ...
Thursday, 21 May 09
INDONESIAN COAL PRODUCTION IN Q1 BELOW TARGET - STEEL GURU
Mr Bambang Gatot Ariyono director for coal and mineral development at the Energy and Mineral Resources Ministry said that the coal production in the ...
Wednesday, 20 May 09
COAL & OIL BAGS TWO CONTRACTS TO SUPPLY COAL TO CEMENT & SUGAR INDUSTRY IN INDIA
COALspot.com: According to website of Coal & Oil Company, Aditya Birla Group (Ultratech) have placed orders with Coal and Oil Company for supply ...
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- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- London Commodity Brokers - England
- Australian Coal Association
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
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