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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, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
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- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
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