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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, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- The University of Queensland
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Economic Council, Georgia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
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