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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, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- The University of Queensland
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- PTC India Limited - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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