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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, 13 February 09
INDONESIA IS EXPECTED TO PRODUCE 225 MILLION TONES OF COAL IN 2009 - ENERGY MINISTRY
Indonesia, the world's top thermal coal exporter, will allocate 68.3 million tonnes of coal out of expected forecast production of 225 million ton ...
Friday, 06 February 09
INDONESIA'S COAL PORTS HAVE FORCED A RETHINK ON 'TRADITIONAL' HANDLING OPTIONS
Port Strategy reported that, Indonesia’s main coal-producing islands of Kalimantan, Sulawesi and Sumatra suffer from a scarcity of suitable la ...
Thursday, 22 January 09
MINISTER: MINING LAW PROHIBITS RAW MATERIAL EXPORT - ESDM
The Coal and Mining Law, approved during the House of Representatives plenary meeting on December 16, 2008 seeks to domestically increase mining com ...
Wednesday, 07 January 09
SOUTH KALIMANTAN COAL PRODUCTION EXPECTED TO INCREASE - ESDM
Coal production from the South Kalimantan region has the potential to increase in the next few years. Aside from the vast proven reserves of coal, s ...
Tuesday, 30 November 99
GLENCORE EXPECTS 2023 TRADING UNIT PROFITS OF UP TO $4 BLN - REUTERS
Glencore GLEN.L on Friday said it expects profits at its trading division this year of up to $4 billion, exceeding its long-term annual guidance.
...
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- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Star Paper Mills Limited - India
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