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