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