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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, 18 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
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Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
Wednesday, 17 February 10
LAND OVERLAPPING UNAVOIDABLE
Land overlapping issues in the mining industry is unavoidable due to the availability of mineral, coal, and oil resources which are often located be ...
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- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
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- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
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- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- The University of Queensland
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
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