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