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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, 16 March 09
COAL MINER BUKIT ASAM RECORDS 135% GAIN IN NET PROFIT FOR 2008 - THE JAKARTA GLOBE
Indonesia's state-owned coal miner PT Tambang Batubara Bukit Asam Tbk said its net profit jumped 135 percent last year, having sold more coal at hi ...
Saturday, 14 March 09
NATIONAL ALUMINIUM TO IMPORT COAL NEXT MONTH TO EASE SHORTAGE - BLOOMBERG
Bloomberg reported that, National Aluminium Co., India’s biggest alumina maker, plans to import as much as 150,000 metric tons of coal next mo ...
Friday, 13 March 09
VIETNAM APPROVES TWO COAL-FIRED POWER PLANTS TO MEET DEMAND -THANHNIENNEWS
Thanhnien News reported that, The government has approved a proposal to build two 2,400-megawatt coal-fired power plants in the provinces of Nam Din ...
Friday, 13 March 09
INDONESIAN STATE-RUN COMPANIES PROFIT MAY FALL 10% THIS YEAR -THANHNIENNEWS
Tanhnien news reported that, Indonesian state-run companies’ profits may fall about 10 percent this year as commodity prices decline, cutting ...
Thursday, 12 March 09
INDONESIA'S CIREBON ELEC IN TALKS ON COAL SUPPLIES - REUTERS
Reuters reported that, Indonesia's PT Cirebon Electric Power, an independent power producer, is in talks with a number of coal suppliers to seek a ...
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- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- PTC India Limited - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- White Energy Company Limited
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
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