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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
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
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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- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Planning Commission, India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
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