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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, 04 February 10
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
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- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- White Energy Company Limited
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Minerals Council of Australia
- The University of Queensland
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
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