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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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- Neyveli Lignite Corporation Ltd, - India
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- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
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- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
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- Planning Commission, India
- Electricity Authority, New Zealand
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- Renaissance Capital - South Africa
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- Directorate Of Revenue Intelligence - India
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- Ministry of Mines - Canada
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- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
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- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
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- White Energy Company Limited
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- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
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- Sree Jayajothi Cements Limited - India
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- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
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- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
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- Georgia Ports Authority, United States
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- PowerSource Philippines DevCo
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- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
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- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
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- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
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- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
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