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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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Friday, 08 May 09
INDONESIAN STATE AUDIT BOARD COULD ONLY REACHED A SMALL NUMBER OF KP AND PKP2B - MAJALAHTAMBANG
THE LACK of personnel and the very limited time period have been the reasons why the 2nd semester of the special purpose audit for coal mining ...
Friday, 08 May 09
B.C.'S MINING INDUSTRY HIGH COAL PRICES TO RECORD 2008 PROFITS - PAGUNTAKA
AGGREGATE pre-tax earnings rose to $3.2 billion, the highest amount in the 41-year history of a PricewaterhouseCoppers survey.
B.C.’s minin ...
Thursday, 07 May 09
ASIA COAL-PRICES EASE TO NEAR $63 ON DEMAND CONCERNS - REUTERS
AUSTRALIAN thermal coal prices, a benchmark for Asia, edged lower to around $63 a tonne on concerns over demand, after hitting a two-week high of $6 ...
Thursday, 07 May 09
RICHARDS BAY COAL SHIPMENTS FALL MOST IN 9 MONTHS - BLOOMBERG
RICHARDS BAY Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments fell 24 percent last month, the biggest drop in nine mo ...
Tuesday, 05 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE - BLOOMBERG
COAL shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 18 percent last week while the numb ...
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- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- The University of Queensland
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
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