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