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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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Monday, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Parliament of New Zealand
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
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