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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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Tuesday, 28 July 09
BUKIT ASAM ENJOYS STRONG FIRST HALF
The Jakarta Post reported that, state coal miner PT Tambang Batubara Bukit Asam (PTBA) enjoyed a strong first half performance with six-month net pr ...
Tuesday, 28 July 09
NEWCASTLE LOADED 1.943 MILLION TONS OF COAL IN THE WEEK ENDED 27TH JULY 2009
COALspot.com (Singapore) : The volume exported from Australia’s Newcastle port in the week ended - 07:00 hours 27 July 2009 ...
Monday, 27 July 09
INDIA PAYING HIGHEST PRICE FOR S.AFRICA COAL - PRODUCERS
* Spread between South African and Pacific origin coal very wide
* Lack of European buying makes India indicator of value
Reuters reported that, ...
Monday, 27 July 09
TAIWAN'S FORMOSA EYES S.AFRICAN COAL FOR Q4: TRADE
Reuters reported that, Taiwan's Formosa Plastics Group is looking to buy two South African thermal coal cargoes for delivery in the fourth-quarter, ...
Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
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- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
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- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
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- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
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- Ind-Barath Power Infra Limited - India
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- Ministry of Transport, Egypt
- The Treasury - Australian Government
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- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
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- Economic Council, Georgia
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- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
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- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
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- London Commodity Brokers - England
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- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
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- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
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- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
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- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
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- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
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- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
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- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
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