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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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Wednesday, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
Tuesday, 12 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 ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
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- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- VISA Power Limited - India
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- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
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- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Planning Commission, India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- CNBM International Corporation - China
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
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