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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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- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- ASAPP Information Group - India
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