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