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