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