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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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- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
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