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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, 06 August 09
CASES FILED AGAINST ESSAR ALGOMA OVER TERMINATED COAL SHIPMENTS
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COMPULSORY MINE RECLAMATION PROPOSED FOR A MINING'S LIFETIME
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Wednesday, 05 August 09
SMALLER DRY BULK CARRIERS TO FARE BETTER UNTIL THE END OF 2009 - SHIPPING
Marcor Shipping reported that, Smaller ship types are expected to outtake larger ones in dry bulk trade for the period until the end of the year. Th ...
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- London Commodity Brokers - England
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- The University of Queensland
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
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