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