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