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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, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
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- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
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- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- SMG Consultants - Indonesia
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- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
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- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
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- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
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