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