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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 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
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Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
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