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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, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
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PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
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Tuesday, 29 September 09
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BUKIT ASAM REDUCES ITS SALES TARGET
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Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
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- Chamber of Mines of South Africa
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- Ceylon Electricity Board - Sri Lanka
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- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
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- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
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- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
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- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Agrawal Coal Company - India
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- PTC India Limited - India
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- CNBM International Corporation - China
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- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
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- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
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- LBH Netherlands Bv - Netherlands
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- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Goldman Sachs - Singapore
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- Australian Coal Association
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- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Planning Commission, India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
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- India Bulls Power Limited - India
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- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
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- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
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- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
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- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
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- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
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- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
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- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
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- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
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