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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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Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
Thursday, 31 December 09
YANDICOOGINA BECOMES FIRST MINE IN AUSTRALIA TO PRODUCE 50 MILLION TONNES A YEAR
COALspot.com Press Release: Rio Tinto's Yandicoogina, Australia's largest-producing iron ore mine, has broken the 50 million tonne mark for annual ...
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- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
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