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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, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
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- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
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- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
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- Posco Energy - South Korea
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- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
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- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Parliament of New Zealand
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- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Bahari Cakrawala Sebuku - Indonesia
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- Indonesian Coal Mining Association
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- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
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- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
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- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
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- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
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- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
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- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
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- Global Green Power PLC Corporation, Philippines
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- Larsen & Toubro Limited - India
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- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
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- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
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