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