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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, 15 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
ENERGY and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
Thursday, 14 May 09
INDONESIA 2009 COAL OUTPUT REVISED DOWN - REUTERS
* Indonesia coal output seen at 240 million tonnes in 2009
* Coal exports down 11.2 pct to 44.79 mln tonnes in Q1 2009
* Production down 1.4 pct t ...
Thursday, 14 May 09
PAKISTAN WILL IMPORT 3.2 MILLION TON OF COAL IN 2009 - SEATRADE
COALspot.com (Pakistan) - SEATRADE Group of pakistan a single largest imported coal supplier in Pakistan, forecasting Pakistan steam coal imports wi ...
Wednesday, 13 May 09
ADARO, ITM EXPECT COAL GROWTH IN 2009
Adaro, which has a market capitalization of $3.64 billion, sells to 48 customers in 18 countries worldwide, including power utilities Thai Power and ...
Wednesday, 13 May 09
COAL SUPPLY MAY BE VASTLY OVERESTIMATED - ABC SCIENCE
The world's coal supply suggests reserves may be vastly overestimated and we could be facing an unprecedented global energy crisis, according to a ...
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- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- The University of Queensland
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- VISA Power Limited - India
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