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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- ASAPP Information Group - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
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