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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
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