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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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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
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- Ambuja Cements Ltd - India
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- Mercator Lines Limited - India
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- Bhatia International Limited - India
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- Electricity Authority, New Zealand
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- Mjunction Services Limited - India
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- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
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- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
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- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
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- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- PNOC Exploration Corporation - Philippines
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- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Australian Coal Association
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- Parliament of New Zealand
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- Central Electricity Authority - India
- Ministry of Transport, Egypt
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- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
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- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
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- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
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- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- White Energy Company Limited
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
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- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
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- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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- Vedanta Resources Plc - India
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