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