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