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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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Thursday, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
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Thursday, 12 August 10
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Thursday, 12 August 10
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Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
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Wednesday, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
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- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
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- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
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- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
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- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
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- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
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- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
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- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
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- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- The University of Queensland
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
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- Planning Commission, India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
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