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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, 01 April 09
COAL FIRMS' PROFITS NOT EXPECTED TO GROW IN '09 - - THE JAKARTA POST (ANALYSTS)
Despite their windfall profits in 2008, analysts doubt that PT Bumi Resources Tbk or any other coal firms will post profit growth this year, with pr ...
Tuesday, 31 March 09
DEUTSCHE BANK TO ADD COAL, GAS, SHIPPING IN COMMODITY EXPANSION - BLOOMBERG
Deutsche Bank AG, after quadrupling revenue from commodities in two years, plans to add coal, European natural-gas and shipping to its business, ant ...
Monday, 30 March 09
CHINA SHENHUA SAYS AGREES DOMESTIC COAL DEALS - REUTERS
Chinese coal mining giant China Shenhua Energy Co has agreed long-term contracts with some Chinese power producers, its President Ling Wen said on M ...
Sunday, 29 March 09
SHENHUA ENERGY 2008 NET RISES 29% TO RECORD ON PRICES - BLOOMBERG
China Shenhua Energy Co Ltd., the nation’s biggest coal producer, said profit rose 29 percent to a record in 2008 after it increased productio ...
Friday, 27 March 09
SOUTH AFRICAN COAL EXPORTS EXPECTED TO RISE IN 2009, BUT RAIL WILL DETERMINE BY HOW MUCH - MININGWEEKLY
South Africa has an expanding coal-export terminal, but an uncertain rail capacity.
The mismatch is something South Africa cannot afford, given i ...
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- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- VISA Power Limited - India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
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