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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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Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
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