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