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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, 06 March 09
CHURCHILL STARTS REVERSE DRILLING AT INDONESIAN COAL PROJECT
Miningweekly reported that, Aim-listed minerals explorer Churchill Mining on Thursday stated that reverse drilling at its East Kutai coal project (E ...
Thursday, 05 March 09
UAE FUND PLANS INDONESIA COAL RAIL LINK
News.alibaba reported that, A United Arab Emirates' fund signed a memorandum of understanding on Monday (2 March 2009) with an Indonesian prov ...
Thursday, 05 March 09
CHINA COAL-PRICES LITTLE CHANGED DESPITE PLUNGE ABROAD
China's spot coal prices were little changed from a week earlier, despite the sharp fall in the international market, and demand for coal remains s ...
Thursday, 05 March 09
RAK TO BUILD COAL FIRED POWER STATION
The National Ras al Khaimah, which is developing a coal mine in Indonesia, will build a coal-fired power plant in the emirate in the next two years ...
Wednesday, 04 March 09
COAL: GLOBAL DEMAND WEAKENS
The Jakarta Post reported that, While coal prices were stickier on the way down compared to other commodities like oil, the Newcastle price now sugg ...
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- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
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