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