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