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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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Thursday, 12 March 09
ANALYSIS-FIRST NEW JAPAN COAL DEAL MAY NOT SET BENCHMARK - FOREXPROS.COM
* Informal coal-deal practice may come to an end this year
* Buyers expected to ask for a discount
* Biggest losers may be Chinese coal suppli ...
Thursday, 12 March 09
DEPARTMENT RECEIVES REPORT FROM GEOLOGICAL BODY AND NEDO - ESDM
The Geological Body of the Department of Energy and Mineral Resources have presented their Joint Study on Evaluation of Coal Resources and Reserves ...
Wednesday, 11 March 09
TENAGA SHARES CLIMB AS LOWER COAL PRICES CUT COSTS - BLOOMBERG
Bloomberg reported that, Tenaga Nasional Bhd., Malaysia’s state-controlled utility, climbed the most in a month in Kuala Lumpur trading as coal ...
Wednesday, 11 March 09
POSCO WINS 63% CUT IN PULVERIZED COAL PRICES, MACQUARIE SAYS - BLOOMBERG
Bloomberg reported that, Posco, Asia’s third-biggest steelmaker, has settled the first pulverized coal contracts for 2009 at $90 a metric ton ...
Wednesday, 11 March 09
COAL EXPORTERS FEEL THE CHILL FROM ASIAN DOWNTURN -BUSINESS.SMH.COM
Business.smh.com reproted that, The demand for thermal coal - NSW's most valuable export - has begun to reduce dramatically in response to the need ...
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- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
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- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- ASAPP Information Group - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
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