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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
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- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
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- Wood Mackenzie - Singapore
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- Directorate General of MIneral and Coal - Indonesia
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- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
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- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
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- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
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- Romanian Commodities Exchange
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- Ministry of Transport, Egypt
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- Indian Oil Corporation Limited
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- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
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- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
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- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
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- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
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- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
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- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
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- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
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- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
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- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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