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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, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
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- Indika Energy - Indonesia
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- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Marubeni Corporation - India
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- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
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- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
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- Sree Jayajothi Cements Limited - India
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- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
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- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
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- Alfred C Toepfer International GmbH - Germany
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- Global Business Power Corporation, Philippines
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- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
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- Cement Manufacturers Association - India
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- Mercator Lines Limited - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Posco Energy - South Korea
- White Energy Company Limited
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
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