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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, 13 February 09
INDONESIA IS EXPECTED TO PRODUCE 225 MILLION TONES OF COAL IN 2009 - ENERGY MINISTRY
Indonesia, the world's top thermal coal exporter, will allocate 68.3 million tonnes of coal out of expected forecast production of 225 million ton ...
Friday, 06 February 09
INDONESIA'S COAL PORTS HAVE FORCED A RETHINK ON 'TRADITIONAL' HANDLING OPTIONS
Port Strategy reported that, Indonesia’s main coal-producing islands of Kalimantan, Sulawesi and Sumatra suffer from a scarcity of suitable la ...
Thursday, 22 January 09
MINISTER: MINING LAW PROHIBITS RAW MATERIAL EXPORT - ESDM
The Coal and Mining Law, approved during the House of Representatives plenary meeting on December 16, 2008 seeks to domestically increase mining com ...
Wednesday, 07 January 09
SOUTH KALIMANTAN COAL PRODUCTION EXPECTED TO INCREASE - ESDM
Coal production from the South Kalimantan region has the potential to increase in the next few years. Aside from the vast proven reserves of coal, s ...
Tuesday, 30 November 99
GLENCORE EXPECTS 2023 TRADING UNIT PROFITS OF UP TO $4 BLN - REUTERS
Glencore GLEN.L on Friday said it expects profits at its trading division this year of up to $4 billion, exceeding its long-term annual guidance.
...
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- Indian Oil Corporation Limited
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Marubeni Corporation - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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