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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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- Pipit Mutiara Jaya. PT, Indonesia
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- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
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- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
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- Petron Corporation, Philippines
- VISA Power Limited - India
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- Vedanta Resources Plc - India
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- Wilmar Investment Holdings
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
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- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
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- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
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- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
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- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Economic Council, Georgia
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- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
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- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
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- Aditya Birla Group - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
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- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
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