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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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Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month ...
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- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Planning Commission, India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
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