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