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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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Thursday, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
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- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
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- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
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- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
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- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
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