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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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Sunday, 01 November 09
THE COAL MOVEMENT TO INDIA FROM SOUTH AFRICA AND INDONESIA WOULD BE CONTINUE INCREASE - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI continued to be firm with an increase of 60 points and closed at 3,103 points.
The cape index also was firm an ...
Sunday, 01 November 09
INDONESIA ADARO Q3 NET PROFIT JUMPS ON COAL DEMAND
* Q3 net profit up 131.6 percent to 1.27 trillion rupiah
* Q3 revenue up 56.8 percent to 7.12 trillion rupiah
Reuters reported that, Indonesia' ...
Sunday, 01 November 09
PT INDIKA MAY BUY STAKES IN BHPB INDONESIA OPERATIONS
Dow Jones reported that Indonesian coal producer PT Indika Energy may buy stakes in BHP Billiton Limited's Indonesian coal operations and in local ...
Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, hel ...
Saturday, 31 October 09
PRODUCERS BENEFIT FROM COAL'S TIGHT SUPPLY AND STRONG DEMAND
The Jakarta Post reported that, The outlook for Indonesian coal producers appears promising with strong volume growth coming from both the domestic ...
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- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
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- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
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- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
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- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- PTC India Limited - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
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