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