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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, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Australian Coal Association
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
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