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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- The University of Queensland
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
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