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