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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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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
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