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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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Saturday, 02 May 09
COAL PRICES TO RISE ON CHINESE SUPPLY, INDIAN DEMAND, UBS SAYS
Peter Hickson, an analyst with UBS AG in London, comments on prices for thermal coal, burned to generate power. He commented in a report today.
& ...
Friday, 01 May 09
DEUTSCHE, BECKKETT CLAIMING ADARO WIN - THE JAKARTA GLOBE
Both Deutsche Bank AG and Beckkett, an investment firm controlled by Indonesian tycoon Sukanto Tanoto, claimed victory on Tuesday after Singapore&rs ...
Thursday, 30 April 09
SAN MIGUEL IN TALKS TO BUY STAKE IN ADARO - REUTERS
San Miguel Corp is in talks to buy a stake worth about $500 million in Adaro Energy , Indonesia's largest coal producer by market value, the Philip ...
Wednesday, 29 April 09
BAYAN READY TO OPERATE WORLD'S LARGEST COAL QUALITY IMPROVEMENT FACILITY - MAJALAH TAMBANG
PT. Bayan Resources Tbk. (hereinafter referred to as Bayan), an Indonesian coal manufacturer, announced that they are ready to operate the world's ...
Wednesday, 29 April 09
NEW GOV'T REGULATION SHOULD INCORPORATE CONFLICT SETTLEMENT BODY - ICMA (MAJALAH TAMBANG)
A draft government regulation on mineral and coal is currently in a process of completion. The Indonesian Coal Mining Association (ICMA) proposed th ...
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- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
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