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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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Wednesday, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year ...
Tuesday, 02 February 10
THAI BANPU SAYS HIGHER COSTS TO HIT COAL PROFITS
Thailand's top coal miner, expects profits from its coal business in 2010 to be lower than last year due to higher costs, but its chief executive i ...
Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The bo ...
Sunday, 31 January 10
AUSTRALIA NEWCASTLE THERMAL COAL FALLS 0.7 PERCENT TO $ 98.53
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 0.7 percent, falling for the first time in four weeks. ...
Sunday, 31 January 10
NTPC TO IMPORT COAL
NTPC Ltd plans to import coal directly, starting next fiscal.
“We plan to import 15-16 million tonnes of coal directly from next year,&rdqu ...
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- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
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