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