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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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Saturday, 25 April 09
KPC DEVELOPS EAST KALIMANTAN WITH GOVT - THE JAKARTA POST
Kaltim Prima Coal (KPC) focuses on several areas in its CSR projects to help the government increase the welfare of the community living around the ...
Friday, 24 April 09
NAPOCOR TO TENDER FOR 195,000 T COAL - ABS-CBNNEWS.COM
Top Philippine electricity producer National Power Corp. (Napocor) said on Friday it will hold a tender on May 20 to buy 195,000 tons of steam coal ...
Friday, 24 April 09
NTPC TO DELVE INTO CONTRACT MINING - ECONOMICTIMES
NTPC, India’s largest power producer, plans to cash in on its decades-old experience in handling coal mines by spinning off a separate u ...
Wednesday, 22 April 09
PROTECTED FORESTS FACING UNDERGROUND MINING THREAT - THE JAKARTA POST
The government is soon to issue a presidential regulation allowing mining companies to mine underground in protected forest areas, despite a recent ...
Tuesday, 21 April 09
MITRA RAJASA TO ACQUIRE TWO MINING COMPANIES - THE JAKARTA POST
PT Mitra Rajasa Tbk plans to acquire PT Realita Jaya Mandiri and PT Masindo Artha Resources in South Sumatra, which are worth around US$40 million.
...
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- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Australian Coal Association
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- The University of Queensland
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
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