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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, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
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- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
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