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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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Tuesday, 21 April 09
INDONESIAN GOVT TO ALLOW UNDERGROUND MINING IN PROTECTED FORESTS - THE JAKARTA POST
The government will issue a regulation allowing mining companies to carry out underground mining in protected forests.
"This regulation will ...
Tuesday, 21 April 09
INDONESIAN GOVT LIKELY TO MISS INVESTMENT TARGETS FOR ENERGY, MINING - THE JAKARTA POST
The total value of investments in energy and mining sectors by the end of the year is likely to be below the government’s target, as a result of ...
Monday, 20 April 09
INDONESIAN COAL MINING ASSOCIATION CALLED TO CONTROL MINERS - MAJALA TAMBANG
The Indonesian Coal Mining Association (ICMA) is called to expand its membership further in view of controlling the conduct of miners in the nationa ...
Monday, 20 April 09
BANPU PLANS TO SHIP 2 MLN T COAL TO CHINA IN 09 - REUTERS
Banpu, Thailand's largest coal miner, plans to increase coal shipments to China by about 30 percent to 2 million tonnes in 2009, company officials ...
Monday, 20 April 09
INDO TAMBANGRAYA 2009 OUTPUT TO GO UP 16% - THE JAKARTA POST
Indonesia's third largest coal producer, publicly listed PT Indo Tambangraya Megah (ITM), is targeting to raise production by 16 percent this year ...
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- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
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