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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, 28 October 09
INVESTMENT IN MINING SECTOR HAMPERED BY LATE REGULATIONS
The Jakarta Post reported that, Indonesia may have to wait for a potential massive inflow of new investment into the mining sector due to delays in ...
Tuesday, 27 October 09
CHINA'S SEPT. COAL IMPORTS RISE AS ECONOMY RECOVERS
Bloomberg reported that, China, the world’s largest coal user and producer, increased imports of the fuel in September to meet rising domest ...
Monday, 26 October 09
DARWIN EYES PRIVATE INVESTMENT
The Jakarta Post reported that, the new energy and ministerial resources minister, Darwin Zahedy Saleh, has set his sights on accelerating the reali ...
Sunday, 25 October 09
THE FUTURE FREIGHT MARKET IS EXPECTED TO HAVE POSITIVE DIRECTION - VISTAAR
COALspot.com (Singapore): According to Vistaar Shipping an experienced ship operator in Singapore, the BDI shot up this week (19-24 October) by abou ...
Saturday, 24 October 09
NTPC SEEKS ALTERNATE COAL SUPPLY FOR KAHALGAON
State-run NTPC is looking at alternate sources of coal to fire its Kahalgaon (Bihar) and Farakka (West Bengal) and power stations, which are facing ...
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- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
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- Jindal Steel & Power Ltd - India
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- Indonesian Coal Mining Association
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- The State Trading Corporation of India Ltd
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- Meralco Power Generation, Philippines
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- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
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- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
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- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- The University of Queensland
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- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
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- Ministry of Mines - Canada
- Australian Coal Association
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- Petron Corporation, Philippines
- Cement Manufacturers Association - India
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- Central Electricity Authority - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
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