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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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Friday, 06 March 09
CHURCHILL STARTS REVERSE DRILLING AT INDONESIAN COAL PROJECT
Miningweekly reported that, Aim-listed minerals explorer Churchill Mining on Thursday stated that reverse drilling at its East Kutai coal project (E ...
Thursday, 05 March 09
UAE FUND PLANS INDONESIA COAL RAIL LINK
News.alibaba reported that, A United Arab Emirates' fund signed a memorandum of understanding on Monday (2 March 2009) with an Indonesian prov ...
Thursday, 05 March 09
CHINA COAL-PRICES LITTLE CHANGED DESPITE PLUNGE ABROAD
China's spot coal prices were little changed from a week earlier, despite the sharp fall in the international market, and demand for coal remains s ...
Thursday, 05 March 09
RAK TO BUILD COAL FIRED POWER STATION
The National Ras al Khaimah, which is developing a coal mine in Indonesia, will build a coal-fired power plant in the emirate in the next two years ...
Wednesday, 04 March 09
COAL: GLOBAL DEMAND WEAKENS
The Jakarta Post reported that, While coal prices were stickier on the way down compared to other commodities like oil, the Newcastle price now sugg ...
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- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
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