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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, 25 January 10
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Monday, 25 January 10
INDONESIAN GOVERNMENT TO ISSUE REGULATION FOR IMPLEMENTATION OF MINERAL AND COAL MINING BUSINESS ACTIVITIES LAW NO.4 / 2009 SOON
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Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Min ...
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- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Mercuria Energy - Indonesia
- Australian Coal Association
- Xindia Steels Limited - India
- Posco Energy - South Korea
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
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