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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, 04 February 10
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
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- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- White Energy Company Limited
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
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