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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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- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
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- Ministry of Transport, Egypt
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- Chamber of Mines of South Africa
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- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
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- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
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- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
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- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
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