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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, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
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