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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
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- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
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