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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
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- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Parliament of New Zealand
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
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