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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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Wednesday, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
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