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