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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, 07 January 10
INDONESIAS COAL OUTPUT MAY RISE TO 309 MILLION TONS IN 2014 - BLOOMBERG
Indonesia’s coal production may rise to 309 million tons by 2014 from an estimated 250 million tons this year, Bambang Setiawan, director-gene ...
Wednesday, 06 January 10
RICHARDS BAY SAYS 46% OF COAL EXPORTS WENT TO EUROPE
Richards Bay Coal Terminal, through which almost all of South Africa’s coal exports are routed, said 46 percent of the coal it exported in 200 ...
Wednesday, 06 January 10
CHINA-AUSTRALIA INVESTMENT TIES SEEN IMPROVING IN 2010
Australia and China showed a united front in a bid to improve investment ties as they signed a $3-billion coal deal on Wednesday, following a rocky ...
Wednesday, 06 January 10
INVESTMENT IN MINING TO TOP $2.5B IN 2010
The government plans to invest US$2.5 billion in the mining sector, an official said Tuesday.
Bambang Setiawan, the director general of mineral r ...
Wednesday, 06 January 10
SAS 2009 COAL EXPORTS THROUGH RBCT FLAT AT 61MT
Exports through South Africa’s Richards Bay Coal Terminal (RBCT) remained flat in 2009, as the terminal faced “critical business challen ...
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- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
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