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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, 25 March 09
MINISTER ASKS ROYALTIES BE PAID IN COAL, NOT CURRENCY - THE JAKARTA POST
Coal companies could pay their royalties to the government in coal, rather than in rupiah, under a proposal made by Energy and Mineral Resources Min ...
Wednesday, 25 March 09
INDONESIA'S STATE ELECTRICITY COMPANY DEMAND FOR COAL TO SOAR NEXT YEAR AS POWER OUTPUT RISES - THE JAKARTA POST
State electricity company PT PLN will need more coal next year as it seeks to generate more power through new plants operated by its subsidiary PT I ...
Tuesday, 24 March 09
INDONESIA'S KPC AGREES FIRST MAJOR CHINA COAL DEAL - REUTERS
Indonesian miner PT Kaltim Prima Coal last week agreed its first major long-term deal to sell thermal coal to China, with 1 million tonnes to be shi ...
Tuesday, 24 March 09
INDONESIA ANTAM'S SETS ASIDE $37 MLN FOR COAL MINES - REUTERS
Indonesian state-owned miner, PT Aneka Tambang Tbk, has allocated $37 million for acquiring coal mines, the company said on Monday.
Antam said la ...
Monday, 23 March 09
NIPPON STEEL, BMA AGREE TO 57 PCT CUT IN COAL PRICE - REUTERS
Nippon Steel Corp has agreed with Australia's BHP Billiton Mitsubishi Alliance (BMA) to pay $128 to $129 per tonne for coking coal in the year from ...
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- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
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