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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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Friday, 29 May 09
INDONESIA PLANS "CLEARING HOUSE" FOR COAL - ALIBABA
Alibaba reported that, Indonesia, the world's biggest thermal coal exporter, plans to set up an agency similar to a clearing house to trade stocks ...
Friday, 29 May 09
INDIKA EYES MORE ACQUISITIONS - THE JAKARTA POST
Having nearly completed the acquisition of engineering and mining company PT Petrosea, energy company PT Indika Energy is preparing for more acquisi ...
Friday, 29 May 09
PTBA PAYS DIVIDENDS OF RP 371.5 A SHARE - THE JAKARTA POST
The annual shareholders' meeting of state-controlled coal producer PT Tambang Batubara Bukit Asam (PTBA) approved on Thursday the allocation of 50 ...
Thursday, 28 May 09
INDIANS CHOOSE SOUTH AFRICA COAL OVER INDONESIAN - MINEWEB (REUTERS)
South African cargoes are about $4 a tonne cheaper than Indonesian coal, as a result India now prefers South Africa .
Indian imports of South Afr ...
Wednesday, 27 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE 3.6% - BLOOMBERG
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 3.6 percent last week while the num ...
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- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- PTC India Limited - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- VISA Power Limited - India
- White Energy Company Limited
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