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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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Wednesday, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
Tuesday, 12 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 ...
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- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- The University of Queensland
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Australian Coal Association
- Independent Power Producers Association of India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
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