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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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Thursday, 12 March 09
ANALYSIS-FIRST NEW JAPAN COAL DEAL MAY NOT SET BENCHMARK - FOREXPROS.COM
* Informal coal-deal practice may come to an end this year
* Buyers expected to ask for a discount
* Biggest losers may be Chinese coal suppli ...
Thursday, 12 March 09
DEPARTMENT RECEIVES REPORT FROM GEOLOGICAL BODY AND NEDO - ESDM
The Geological Body of the Department of Energy and Mineral Resources have presented their Joint Study on Evaluation of Coal Resources and Reserves ...
Wednesday, 11 March 09
TENAGA SHARES CLIMB AS LOWER COAL PRICES CUT COSTS - BLOOMBERG
Bloomberg reported that, Tenaga Nasional Bhd., Malaysia’s state-controlled utility, climbed the most in a month in Kuala Lumpur trading as coal ...
Wednesday, 11 March 09
POSCO WINS 63% CUT IN PULVERIZED COAL PRICES, MACQUARIE SAYS - BLOOMBERG
Bloomberg reported that, Posco, Asia’s third-biggest steelmaker, has settled the first pulverized coal contracts for 2009 at $90 a metric ton ...
Wednesday, 11 March 09
COAL EXPORTERS FEEL THE CHILL FROM ASIAN DOWNTURN -BUSINESS.SMH.COM
Business.smh.com reproted that, The demand for thermal coal - NSW's most valuable export - has begun to reduce dramatically in response to the need ...
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- Aditya Birla Group - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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