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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, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
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- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
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