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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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Saturday, 25 April 09
KPC DEVELOPS EAST KALIMANTAN WITH GOVT - THE JAKARTA POST
Kaltim Prima Coal (KPC) focuses on several areas in its CSR projects to help the government increase the welfare of the community living around the ...
Friday, 24 April 09
NAPOCOR TO TENDER FOR 195,000 T COAL - ABS-CBNNEWS.COM
Top Philippine electricity producer National Power Corp. (Napocor) said on Friday it will hold a tender on May 20 to buy 195,000 tons of steam coal ...
Friday, 24 April 09
NTPC TO DELVE INTO CONTRACT MINING - ECONOMICTIMES
NTPC, India’s largest power producer, plans to cash in on its decades-old experience in handling coal mines by spinning off a separate u ...
Wednesday, 22 April 09
PROTECTED FORESTS FACING UNDERGROUND MINING THREAT - THE JAKARTA POST
The government is soon to issue a presidential regulation allowing mining companies to mine underground in protected forest areas, despite a recent ...
Tuesday, 21 April 09
MITRA RAJASA TO ACQUIRE TWO MINING COMPANIES - THE JAKARTA POST
PT Mitra Rajasa Tbk plans to acquire PT Realita Jaya Mandiri and PT Masindo Artha Resources in South Sumatra, which are worth around US$40 million.
...
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- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
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