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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
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- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Planning Commission, India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
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