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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, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
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Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
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Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
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