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