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