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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 02 June 09
GOVT FINALIZING DMO MECHANISM, REFERENCE PRICE FOR COAL - THE JAKARTA POST
Indonesia, the world's largest thermal coal exporter, is finalizing regulations on a reference price on coal, on a domestic market obligation (DMO) ...
Tuesday, 02 June 09
CHINA OVERSEAS COAL DEMAND TO STAY BUOYANT-MINERS (REUTERS)
China's demand for overseas coal is expected to stay strong in the second half as long as prices of imported coal maintain a discount to domestic p ...
Tuesday, 02 June 09
INDONESIA'S COAL EXPORTS REACH US$ 3.44 BILLION SO FAR THIS YEAR - TRADINGCHARTS
Indonesia`s coal exports in the January-April 2009 period increased by 21.31 per cent to US$3.44 billion compared to US$2.83 billion in the same per ...
Tuesday, 02 June 09
INDONESIA'S BUKIT ASAM AGREES HIGHER COAL PRICES - REUTERS
Indonesian state coal miner PT Bukit Asam Tbk said it has agreed coal prices for two power plants owned by state electricity firm PT Perusahaan List ...
Tuesday, 02 June 09
ADARO MAY RAISE COAL SALES TO CHINA, INDIA PLANTS - THE JAKARTA GLOBE
PT Adaro Energy, the country’s second-largest coal producer, may increase sales of power-plant coal to China and India on signs of a global ec ...
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- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
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