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