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