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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, 28 October 09
INVESTMENT IN MINING SECTOR HAMPERED BY LATE REGULATIONS
The Jakarta Post reported that, Indonesia may have to wait for a potential massive inflow of new investment into the mining sector due to delays in ...
Tuesday, 27 October 09
CHINA'S SEPT. COAL IMPORTS RISE AS ECONOMY RECOVERS
Bloomberg reported that, China, the world’s largest coal user and producer, increased imports of the fuel in September to meet rising domest ...
Monday, 26 October 09
DARWIN EYES PRIVATE INVESTMENT
The Jakarta Post reported that, the new energy and ministerial resources minister, Darwin Zahedy Saleh, has set his sights on accelerating the reali ...
Sunday, 25 October 09
THE FUTURE FREIGHT MARKET IS EXPECTED TO HAVE POSITIVE DIRECTION - VISTAAR
COALspot.com (Singapore): According to Vistaar Shipping an experienced ship operator in Singapore, the BDI shot up this week (19-24 October) by abou ...
Saturday, 24 October 09
NTPC SEEKS ALTERNATE COAL SUPPLY FOR KAHALGAON
State-run NTPC is looking at alternate sources of coal to fire its Kahalgaon (Bihar) and Farakka (West Bengal) and power stations, which are facing ...
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- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
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- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
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- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
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- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
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- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
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- Bangladesh Power Developement Board
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- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
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- Energy Development Corp, Philippines
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- Marubeni Corporation - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
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- McConnell Dowell - Australia
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- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
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- Semirara Mining and Power Corporation, Philippines
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- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Central Java Power - Indonesia
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