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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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Monday, 20 April 09
PT PAMAPERSADA SEES ITS REVENUE TO CLIMB BY 20% IN 2009 - STEELGURU
PT Pamapersada Nusantara, a unit of Indonesia's PT United Tractors, said that its 2009 profit will be similar to last year, even as it forecasts re ...
Monday, 20 April 09
NIPPON STEEL SEMI-SOFT COAL PRICE SAID TO DROP 67% - BLOOMBERG
Nippon Steel Corp., Japan’s largest mill, will pay up to 67 percent less for semi-soft coking coal this fiscal year, two industry executives w ...
Monday, 20 April 09
INTERNATIONAL INVESTORS SEEK TO SELL ADARO STAKES - MONEY.CNN
Some international investors in PT Adaro Energy ( ADRO.JK) have approached other companies to sell around a combined 17% stake in the coal miner via ...
Friday, 17 April 09
BHATIA COAL INDIA, VITOL IN DISPUTE - COAL JUNCTION
Bhatia Coal India, a subsidiary of the Bhatia International Group, terminated a coal supply contract with traders Vitol and has initiated arbitratio ...
Friday, 17 April 09
JSW TO BUY THERMAL COAL MINE IN AFRICA
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million tons, to min ...
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- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Parliament of New Zealand
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Planning Commission, India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- ASAPP Information Group - India
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