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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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Saturday, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
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- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
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