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