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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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Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month ...
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- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- PTC India Limited - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Australian Coal Association
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
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