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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
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Thursday, 12 August 10
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Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
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Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
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Wednesday, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
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- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
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- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
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- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
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- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Siam City Cement - Thailand
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- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Planning Commission, India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
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