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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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