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