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