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