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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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Wednesday, 04 March 20
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UKRAINE PRODUCED OVER 2.55 MLN TONNES OF COAL IN FEBRUARY - UKRINFORM
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The Coal Miners Union of Ukrai ...
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- International Coal Ventures Pvt Ltd - India
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- Meralco Power Generation, Philippines
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- Coal and Oil Company - UAE
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- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
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- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Australian Coal Association
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- Commonwealth Bank - Australia
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- Metalloyd Limited - United Kingdom
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- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
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- Star Paper Mills Limited - India
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- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
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- Heidelberg Cement - Germany
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- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
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- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
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- Petron Corporation, Philippines
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- Ceylon Electricity Board - Sri Lanka
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- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
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- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Thiess Contractors Indonesia
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- Banpu Public Company Limited - Thailand
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- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
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- European Bulk Services B.V. - Netherlands
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- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
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