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