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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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Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of pr ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...
Saturday, 25 April 09
ADARO RUNS CATARACT OPERATION PROGRAM - THE JAKARTA POST
As part of its CSR program, thermal coal producer PT Adaro Indonesia has made cataract operations available to residents of Tandjung district, South ...
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- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
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- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
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- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
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