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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, 01 April 09
COAL FIRMS' PROFITS NOT EXPECTED TO GROW IN '09 - - THE JAKARTA POST (ANALYSTS)
Despite their windfall profits in 2008, analysts doubt that PT Bumi Resources Tbk or any other coal firms will post profit growth this year, with pr ...
Tuesday, 31 March 09
DEUTSCHE BANK TO ADD COAL, GAS, SHIPPING IN COMMODITY EXPANSION - BLOOMBERG
Deutsche Bank AG, after quadrupling revenue from commodities in two years, plans to add coal, European natural-gas and shipping to its business, ant ...
Monday, 30 March 09
CHINA SHENHUA SAYS AGREES DOMESTIC COAL DEALS - REUTERS
Chinese coal mining giant China Shenhua Energy Co has agreed long-term contracts with some Chinese power producers, its President Ling Wen said on M ...
Sunday, 29 March 09
SHENHUA ENERGY 2008 NET RISES 29% TO RECORD ON PRICES - BLOOMBERG
China Shenhua Energy Co Ltd., the nation’s biggest coal producer, said profit rose 29 percent to a record in 2008 after it increased productio ...
Friday, 27 March 09
SOUTH AFRICAN COAL EXPORTS EXPECTED TO RISE IN 2009, BUT RAIL WILL DETERMINE BY HOW MUCH - MININGWEEKLY
South Africa has an expanding coal-export terminal, but an uncertain rail capacity.
The mismatch is something South Africa cannot afford, given i ...
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- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Australian Coal Association
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- The University of Queensland
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
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