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