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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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Thursday, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
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- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
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- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
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- Power Finance Corporation Ltd., India
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- Tamil Nadu electricity Board
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- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
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- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
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- Australian Coal Association
- Central Electricity Authority - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- The University of Queensland
- Makarim & Taira - Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- VISA Power Limited - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
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