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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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Friday, 08 May 09
INDONESIAN STATE AUDIT BOARD COULD ONLY REACHED A SMALL NUMBER OF KP AND PKP2B - MAJALAHTAMBANG
THE LACK of personnel and the very limited time period have been the reasons why the 2nd semester of the special purpose audit for coal mining ...
Friday, 08 May 09
B.C.'S MINING INDUSTRY HIGH COAL PRICES TO RECORD 2008 PROFITS - PAGUNTAKA
AGGREGATE pre-tax earnings rose to $3.2 billion, the highest amount in the 41-year history of a PricewaterhouseCoppers survey.
B.C.’s minin ...
Thursday, 07 May 09
ASIA COAL-PRICES EASE TO NEAR $63 ON DEMAND CONCERNS - REUTERS
AUSTRALIAN thermal coal prices, a benchmark for Asia, edged lower to around $63 a tonne on concerns over demand, after hitting a two-week high of $6 ...
Thursday, 07 May 09
RICHARDS BAY COAL SHIPMENTS FALL MOST IN 9 MONTHS - BLOOMBERG
RICHARDS BAY Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments fell 24 percent last month, the biggest drop in nine mo ...
Tuesday, 05 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE - BLOOMBERG
COAL shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 18 percent last week while the numb ...
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- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
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- Australian Commodity Traders Exchange
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- Indian Oil Corporation Limited
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- Bhushan Steel Limited - India
- Romanian Commodities Exchange
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- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- GMR Energy Limited - India
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- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
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- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
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- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
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- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
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- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
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- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
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- Rio Tinto Coal - Australia
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- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
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- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
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