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