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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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Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
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Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Australian Coal Association
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- The University of Queensland
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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