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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, 15 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
ENERGY and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
Thursday, 14 May 09
INDONESIA 2009 COAL OUTPUT REVISED DOWN - REUTERS
* Indonesia coal output seen at 240 million tonnes in 2009
* Coal exports down 11.2 pct to 44.79 mln tonnes in Q1 2009
* Production down 1.4 pct t ...
Thursday, 14 May 09
PAKISTAN WILL IMPORT 3.2 MILLION TON OF COAL IN 2009 - SEATRADE
COALspot.com (Pakistan) - SEATRADE Group of pakistan a single largest imported coal supplier in Pakistan, forecasting Pakistan steam coal imports wi ...
Wednesday, 13 May 09
ADARO, ITM EXPECT COAL GROWTH IN 2009
Adaro, which has a market capitalization of $3.64 billion, sells to 48 customers in 18 countries worldwide, including power utilities Thai Power and ...
Wednesday, 13 May 09
COAL SUPPLY MAY BE VASTLY OVERESTIMATED - ABC SCIENCE
The world's coal supply suggests reserves may be vastly overestimated and we could be facing an unprecedented global energy crisis, according to a ...
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- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Thai Mozambique Logistica
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- The University of Queensland
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
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