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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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Thursday, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
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Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- PTC India Limited - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
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