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