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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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Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
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- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- PTC India Limited - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- The University of Queensland
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
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