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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, 17 June 10
COAL EXPLORATION & DEVELOPMENTS HOTPOTS CONFERENCE
Press Release: The Coal Exploration and Developments Hotspots conference will bring together a panel of more than 20 of the world’s lead ...
Thursday, 17 June 10
AUSTRALIA'S LEIGHTON WINS $1.3 BILLION OF NEW WORK - THE JAKARTA POST
Australian construction and contract mining group Leighton Holdings Ltd. said Thursday it has won 1.5 billion Australian dollars ($1.3 billion) of n ...
Wednesday, 16 June 10
INDONESIAS STATE OWNED ELECTRICITY COMPANY WILL CONSUME 95.30 MILLION TONS OF COAL IN 2014
COALspot.com: Indonesia's state owned electricity company forecasted its coal requirement in 2014 would be around 95 million tons. ...
Wednesday, 16 June 10
MADHYA PRADESH GOVT IMPORT 50K METRIC TONNES OF COAL FROM INDONESIA - DNA INDIA
DNA India reported that, the Madhya Pradesh government has imported 50,000 metric tonnes of coal from Indonesia to deal with its shortage which is a ...
Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
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- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- The University of Queensland
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- SMC Global Power, Philippines
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