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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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Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
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- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Planning Commission, India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
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