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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, 23 March 09
STRAITS TO SELL STAKE IN COAL ASSETS TO PTT -THEAUSTRALIAN.NEWS.COM
STRAITS Resources will sell a 60 per cent stake in its Indonesian coal assets to Thailand's PTT International Co. for $US335 million.
The transa ...
Monday, 23 March 09
BMA TAKES 60 PCT CUT IN JAPAN COKING COAL PRICE-CITI - REUTERS
BHP Billiton Mitsubishi Alliance (BMA), the world's top coking coal exporter, has agreed to accept a discount of around 60 percent for the steel-ma ...
Sunday, 22 March 09
SHENHUA ENERGY'S 2009 COAL PRODUCTION MAY GAIN 8% - BLOOMBERG
China Shenhua Energy Co., the nation’s biggest coal producer, may increase production of the energy fuel by about 8 percent this year, slower ...
Friday, 20 March 09
INDONESIA ORDERS TEMPORARY HALT AT BAYAN COAL MINE - REUTERS
Indonesia has ordered a coal mining unit of PT Bayan Resources to temporarily stop production for operating outside approved areas, a government off ...
Friday, 20 March 09
COKING-COAL PRICE STRUCK AT $115-$125, CITIGROUP SAYS - BLOOMBERG
BHP Billiton Ltd., the world’s largest miner, agreed with Nippon Steel Corp. to benchmark coking coal prices of $115 to $125 a metric ton, Cit ...
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- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
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- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- India Bulls Power Limited - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
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- Deloitte Consulting - India
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- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
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- Indian Oil Corporation Limited
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- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
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- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
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