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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, 27 May 09
EUROPEAN COAL PRICES FOR 2010 SETTLEMENT DROP TO 11-DAY LOW - BLOOMBERG
Benchmark European coal derivatives declined to an 11-day low as oil prices slumped.
Coal for delivery to Amsterdam, Rotterdam or Antwerp with se ...
Tuesday, 26 May 09
NEW MINING PERMITS TO BE OBTAINABLE WITHIN TWO WEEKS' TIME - MAJALAHTAMBANG
The Indonesian government is currently formulating a procedure for companies willing to obtain mining permits (IUP in its Indonesian abbreviation). ...
Tuesday, 26 May 09
KADIN CALLS FOR BIGGER RECOGNITION OF MINING SECTOR - MAJALAHTAMBANG
The Indonesian Chamber of Commerce and Industry (KADIN Indonesia) had called other sectors, particularly the forestry and the land administration se ...
Tuesday, 26 May 09
TUTICORIN PORT TO INVEST RS 700CR FOR COAL HANDLING FACILITIES
Business Standard reported that, The Tuticorin Port will develop coal handling facilities for state-run Neyveli Lignite Corporation (NLC) and Coasta ...
Monday, 25 May 09
MMTC TO IMPORT 12.5 MN TN COAL FOR NTPC
India's State-run trading firm MMTC Ltd will import 12.5 million tonnes of coal this fiscal for the country’s largest power producer, NTPC. M ...
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- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
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- Parliament of New Zealand
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- Maharashtra Electricity Regulatory Commission - India
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- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Romanian Commodities Exchange
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- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Interocean Group of Companies - India
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- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Australian Coal Association
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
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