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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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Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
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