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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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Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
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- Bangladesh Power Developement Board
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- MS Steel International - UAE
- Indian Oil Corporation Limited
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- Coastal Gujarat Power Limited - India
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- Agrawal Coal Company - India
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- Malabar Cements Ltd - India
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- Posco Energy - South Korea
- Goldman Sachs - Singapore
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- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
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- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
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- Commonwealth Bank - Australia
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- Thai Mozambique Logistica
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- Billiton Holdings Pty Ltd - Australia
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- Chamber of Mines of South Africa
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- Pipit Mutiara Jaya. PT, Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
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- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
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- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
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- Bulk Trading Sa - Switzerland
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- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
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- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
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- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
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- SMC Global Power, Philippines
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- Siam City Cement - Thailand
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- Wood Mackenzie - Singapore
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- Energy Development Corp, Philippines
- The Treasury - Australian Government
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- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- The University of Queensland
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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