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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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Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
Thursday, 31 December 09
YANDICOOGINA BECOMES FIRST MINE IN AUSTRALIA TO PRODUCE 50 MILLION TONNES A YEAR
COALspot.com Press Release: Rio Tinto's Yandicoogina, Australia's largest-producing iron ore mine, has broken the 50 million tonne mark for annual ...
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- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- White Energy Company Limited
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
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