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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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Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
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Wednesday, 11 November 09
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Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
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Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
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Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Vijayanagar Sugar Pvt Ltd - India
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- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
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- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
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- Global Coal Blending Company Limited - Australia
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- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
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- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
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- Australian Commodity Traders Exchange
- White Energy Company Limited
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- Parliament of New Zealand
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- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
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- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
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- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
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- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
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- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
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- Chettinad Cement Corporation Ltd - India
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- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
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- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
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- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
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- Carbofer General Trading SA - India
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- Larsen & Toubro Limited - India
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