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