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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, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Planning Commission, India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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