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