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