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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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Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
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- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- MS Steel International - UAE
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
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