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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, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- The University of Queensland
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
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