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