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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
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- Agrawal Coal Company - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
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