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