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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, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
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PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
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Tuesday, 29 September 09
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BUKIT ASAM REDUCES ITS SALES TARGET
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Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
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- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
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- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
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- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
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- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
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- The University of Queensland
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- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
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- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
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- GMR Energy Limited - India
- Aditya Birla Group - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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