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