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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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Monday, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
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- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- The University of Queensland
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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