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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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Monday, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
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THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
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Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
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Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
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Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
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- Semirara Mining Corp, Philippines
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- Merrill Lynch Commodities Europe
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- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
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- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
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- Edison Trading Spa - Italy
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- Ceylon Electricity Board - Sri Lanka
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- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
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- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
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- Trasteel International SA, Italy
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- Economic Council, Georgia
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- Australian Coal Association
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- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
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- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
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- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
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- Romanian Commodities Exchange
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- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- White Energy Company Limited
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
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- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
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- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
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- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
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- Minerals Council of Australia
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
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- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
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- Cigading International Bulk Terminal - Indonesia
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- Billiton Holdings Pty Ltd - Australia
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- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
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- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- The University of Queensland
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
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- Agrawal Coal Company - India
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- Australian Commodity Traders Exchange
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- Binh Thuan Hamico - Vietnam
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