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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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Monday, 20 April 09
PT PAMAPERSADA SEES ITS REVENUE TO CLIMB BY 20% IN 2009 - STEELGURU
PT Pamapersada Nusantara, a unit of Indonesia's PT United Tractors, said that its 2009 profit will be similar to last year, even as it forecasts re ...
Monday, 20 April 09
NIPPON STEEL SEMI-SOFT COAL PRICE SAID TO DROP 67% - BLOOMBERG
Nippon Steel Corp., Japan’s largest mill, will pay up to 67 percent less for semi-soft coking coal this fiscal year, two industry executives w ...
Monday, 20 April 09
INTERNATIONAL INVESTORS SEEK TO SELL ADARO STAKES - MONEY.CNN
Some international investors in PT Adaro Energy ( ADRO.JK) have approached other companies to sell around a combined 17% stake in the coal miner via ...
Friday, 17 April 09
BHATIA COAL INDIA, VITOL IN DISPUTE - COAL JUNCTION
Bhatia Coal India, a subsidiary of the Bhatia International Group, terminated a coal supply contract with traders Vitol and has initiated arbitratio ...
Friday, 17 April 09
JSW TO BUY THERMAL COAL MINE IN AFRICA
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million tons, to min ...
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- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- The University of Queensland
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
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