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