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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
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- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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