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