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