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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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- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
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- Indian Energy Exchange, India
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- Toyota Tsusho Corporation, Japan
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- Wilmar Investment Holdings
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- Commonwealth Bank - Australia
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- Indian Oil Corporation Limited
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- Directorate General of MIneral and Coal - Indonesia
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- The State Trading Corporation of India Ltd
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- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
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- Attock Cement Pakistan Limited
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- Eastern Energy - Thailand
- White Energy Company Limited
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- Romanian Commodities Exchange
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- Semirara Mining Corp, Philippines
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- Energy Link Ltd, New Zealand
- Minerals Council of Australia
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- The University of Queensland
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- Indika Energy - Indonesia
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- GMR Energy Limited - India
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- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
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- Kepco SPC Power Corporation, Philippines
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- MS Steel International - UAE
- Petron Corporation, Philippines
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- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
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- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
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- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
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- Metalloyd Limited - United Kingdom
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- India Bulls Power Limited - India
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- Thiess Contractors Indonesia
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- Star Paper Mills Limited - India
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- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
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- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
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- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
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- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
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- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
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