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