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