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