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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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Tuesday, 21 April 09
INDONESIAN GOVT TO ALLOW UNDERGROUND MINING IN PROTECTED FORESTS - THE JAKARTA POST
The government will issue a regulation allowing mining companies to carry out underground mining in protected forests.
"This regulation will ...
Tuesday, 21 April 09
INDONESIAN GOVT LIKELY TO MISS INVESTMENT TARGETS FOR ENERGY, MINING - THE JAKARTA POST
The total value of investments in energy and mining sectors by the end of the year is likely to be below the government’s target, as a result of ...
Monday, 20 April 09
INDONESIAN COAL MINING ASSOCIATION CALLED TO CONTROL MINERS - MAJALA TAMBANG
The Indonesian Coal Mining Association (ICMA) is called to expand its membership further in view of controlling the conduct of miners in the nationa ...
Monday, 20 April 09
BANPU PLANS TO SHIP 2 MLN T COAL TO CHINA IN 09 - REUTERS
Banpu, Thailand's largest coal miner, plans to increase coal shipments to China by about 30 percent to 2 million tonnes in 2009, company officials ...
Monday, 20 April 09
INDO TAMBANGRAYA 2009 OUTPUT TO GO UP 16% - THE JAKARTA POST
Indonesia's third largest coal producer, publicly listed PT Indo Tambangraya Megah (ITM), is targeting to raise production by 16 percent this year ...
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- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Planning Commission, India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
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