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