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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, 22 May 09
INDONESIA`S BUKIT ASAM TO HAVE POWER PLANT IN 2011 - ANTARA
The construction of a power plant in South Sumatra by coal mining company PT Tambang Batubara Bukit Asam will be completed in April 2011.
T ...
Friday, 22 May 09
NOBLE WINS CONTROL OF AUSTRALIA'S GLOUCESTER COAL - BLOOMBERG
Noble Group Ltd., a Hong Kong- based commodity supplier, won control of Australia’s Gloucester Coal Ltd. after last week raising its cash bid ...
Thursday, 21 May 09
FBR STARTS COVERAGE OF SHIPPING SECTOR - REUTERS
Friedman Billings Ramsey began coverage of the shipping industry, saying the sector, which is amidst a deep cyclical downturn, is poised for a recov ...
Thursday, 21 May 09
INDONESIAN COAL PRODUCTION IN Q1 BELOW TARGET - STEEL GURU
Mr Bambang Gatot Ariyono director for coal and mineral development at the Energy and Mineral Resources Ministry said that the coal production in the ...
Wednesday, 20 May 09
COAL & OIL BAGS TWO CONTRACTS TO SUPPLY COAL TO CEMENT & SUGAR INDUSTRY IN INDIA
COALspot.com: According to website of Coal & Oil Company, Aditya Birla Group (Ultratech) have placed orders with Coal and Oil Company for supply ...
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- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- The University of Queensland
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
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