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