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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
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- Straits Asia Resources Limited - Singapore
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- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
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- New Zealand Coal & Carbon
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- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
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- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- PTC India Limited - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Planning Commission, India
- Parliament of New Zealand
- Independent Power Producers Association of India
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