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