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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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Tuesday, 05 May 09
INDONESIA'S ADARO PAYS $78.6 MLN FOR COAL-BARGING FIRM - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, said late on Monday it paid $78.6 million for a 74 percent stake in Orchard ...
Tuesday, 05 May 09
PHILIPPINES SEMIRARA STILL EXPECTS HIKE IN COAL SALES - BUSINESS MIRROR
DESPITE the anticipated soft demand resulting from the prevailing global financial crisis, the country’s largest coal producer Semirara Mining ...
Monday, 04 May 09
VISTAAR SINGAPORE SAYS, THIS MONTH DRY BULK FREIGHT LIKELY TO COME DOWN
COALspot.com (Singapore) - VISTAAR shipping Services Pte Limited of Singapore, said, the beginning of last week started with bit of weakness an ...
Monday, 04 May 09
PNOC-EC TO GROW COAL OPERATIONS - PHILIPPINE DAILY INQUIRER
LISTED firm Philippine National Oil Co.-Exploration Corp. plans to expand its operations this year to ensure the steady supply of coal and fur ...
Saturday, 02 May 09
BUMI'S FIRST-QUARTER PROFIT RISES 21% ON COAL PRICE - BLOOMBERG
PT BUMI RESOURCES, Asia’s biggest exporter of power-station coal, said first-quarter profit rose 21 percent after it earned higher prices for ...
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- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- MS Steel International - UAE
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- PTC India Limited - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
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