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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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Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
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- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- PTC India Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
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