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